Etsy, Inc. (NASDAQ:ETSY) Stock Holdings Lessened by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC cut its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 24.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,518 shares of the specialty retailer’s stock after selling 7,422 shares during the period. Orion Portfolio Solutions LLC’s holdings in Etsy were worth $1,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Etsy by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock worth $651,056,000 after acquiring an additional 56,772 shares during the last quarter. Van ECK Associates Corp increased its position in Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after purchasing an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Etsy by 12.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock worth $92,452,000 after purchasing an additional 188,386 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after buying an additional 850,520 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Etsy in the 4th quarter valued at approximately $74,235,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ETSY. UBS Group reduced their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price objective on shares of Etsy from $47.00 to $46.00 and set an “underweight” rating for the company in a research note on Wednesday. Loop Capital lowered their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reduced their price target on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, Citigroup lowered their price objective on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $58.38.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock worth $2,554,620 in the last 90 days. 2.60% of the stock is owned by company insiders.

Etsy Price Performance

Shares of Etsy stock opened at $44.42 on Friday. Etsy, Inc. has a 52-week low of $43.43 and a 52-week high of $71.72. The firm has a market capitalization of $4.76 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The company’s fifty day moving average price is $50.45 and its two-hundred day moving average price is $52.44.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.