Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 639,879 shares of the specialty retailer’s stock after selling 93,226 shares during the period. Assenagon Asset Management S.A.’s holdings in Etsy were worth $35,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ETSY. Blue Trust Inc. increased its stake in Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after buying an additional 231 shares during the period. Exchange Capital Management Inc. increased its position in shares of Etsy by 1.6% during the first quarter. Exchange Capital Management Inc. now owns 15,364 shares of the specialty retailer’s stock worth $1,056,000 after acquiring an additional 240 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Etsy by 7.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,659 shares of the specialty retailer’s stock valued at $251,000 after purchasing an additional 240 shares during the last quarter. Meridian Management Co. grew its stake in Etsy by 0.4% during the 2nd quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock valued at $3,740,000 after purchasing an additional 241 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Etsy by 25.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock worth $73,000 after purchasing an additional 253 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on ETSY shares. The Goldman Sachs Group lowered shares of Etsy from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $70.00 to $45.00 in a research note on Tuesday, October 15th. Stifel Nicolaus cut their target price on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Wedbush decreased their price target on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday. Loop Capital lowered their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, Wolfe Research assumed coverage on Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus price target of $66.83.

Etsy Trading Down 2.0 %

Shares of NASDAQ ETSY opened at $48.63 on Friday. Etsy, Inc. has a 12-month low of $48.07 and a 12-month high of $89.58. The company has a market cap of $5.69 billion, a PE ratio of 22.21, a P/E/G ratio of 4.99 and a beta of 1.97. The stock has a 50 day simple moving average of $53.20 and a 200-day simple moving average of $58.90.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. Sell-side analysts forecast that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock worth $300,670 in the last 90 days. 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.