Chevy Chase Trust Holdings LLC Sells 555 Shares of Etsy, Inc. (NASDAQ:ETSY)

Chevy Chase Trust Holdings LLC cut its stake in Etsy, Inc. (NASDAQ:ETSY) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,336 shares of the specialty retailer’s stock after selling 555 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of Etsy worth $4,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC purchased a new position in shares of Etsy in the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. lifted its stake in shares of Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the period. Tompkins Financial Corp purchased a new position in shares of Etsy in the 4th quarter valued at approximately $41,000. Finally, Principal Securities Inc. purchased a new position in shares of Etsy in the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 2.7 %

Shares of NASDAQ ETSY traded up $1.53 during mid-day trading on Thursday, reaching $58.85. The company had a trading volume of 292,371 shares, compared to its average volume of 3,603,140. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 4.51 and a beta of 2.02. Etsy, Inc. has a 52 week low of $55.08 and a 52 week high of $102.81. The business’s 50-day moving average is $61.25 and its 200-day moving average is $67.79.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. As a group, equities research analysts forecast that Etsy, Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on ETSY. The Goldman Sachs Group lowered their target price on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Loop Capital lowered Etsy from a “hold” rating to a “sell” rating and reduced their price objective for the company from $70.00 to $50.00 in a research report on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, June 25th. Canaccord Genuity Group reduced their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, BTIG Research reduced their price objective on Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average target price of $79.88.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $38,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Etsy 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.