Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,489 shares of the specialty retailer’s stock after selling 16,214 shares during the period. Advisors Asset Management Inc.’s holdings in Etsy were worth $8,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ETSY. Kennondale Capital Management LLC acquired a new position in Etsy in the fourth quarter valued at about $926,000. Royce & Associates LP purchased a new stake in shares of Etsy in the 4th quarter valued at approximately $4,154,000. Natixis Advisors LLC acquired a new position in shares of Etsy in the 4th quarter worth approximately $606,000. Vestcor Inc purchased a new position in shares of Etsy during the 4th quarter worth approximately $223,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Etsy in the 4th quarter valued at approximately $15,630,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ETSY shares. Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and decreased their price target for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Moffett Nathanson increased their target price on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. UBS Group dropped their target price on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald cut their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Etsy has a consensus rating of “Hold” and a consensus price target of $58.78.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now owns 22,198 shares in the company, valued at approximately $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 a total of 24,666 shares of company stock valued at $1,286,445 in the last three months. 2.60% of the stock is currently owned by company insiders.

Etsy Stock Down 3.5 %

ETSY stock opened at $44.66 on Wednesday. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a fifty-two week low of $43.75 and a fifty-two week high of $71.72. The business has a 50 day moving average price of $52.06 and a 200 day moving average price of $53.07.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same period last year, the firm posted $0.62 EPS. The company’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

About Etsy

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.