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

Assenagon Asset Management S.A. lowered its position in Etsy, Inc. (NASDAQ:ETSY) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 639,879 shares of the specialty retailer’s stock after selling 93,226 shares during the period. Assenagon Asset Management S.A. owned about 0.55% of Etsy worth $35,532,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Wolfe Research started coverage on Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Evercore ISI raised Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $76.00 target price on shares of Etsy in a report on Tuesday, September 24th. Finally, Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.83.

Insider Buying and Selling

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 stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,619 shares of company stock valued at $300,670. 2.60% of the stock is currently owned by company insiders.

Etsy Trading Down 2.0 %

Shares of NASDAQ:ETSY opened at $48.63 on Friday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 4.99 and a beta of 1.97. The stock’s 50-day moving average price is $53.20 and its two-hundred day moving average price is $58.90. Etsy, Inc. has a 12-month low of $48.07 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last released its 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 company had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, research analysts forecast that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

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.