Toronto Dominion Bank Cuts Position in Etsy, Inc. (NASDAQ:ETSY)

Toronto Dominion Bank lowered its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 95.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,814 shares of the specialty retailer’s stock after selling 676,425 shares during the quarter. Toronto Dominion Bank’s holdings in Etsy were worth $2,461,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Sheaff Brock Investment Advisors LLC lifted its stake in Etsy by 7.0% in 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. Advisors Asset Management Inc. lifted its stake in shares of Etsy by 12.6% in the 1st quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after purchasing an additional 16,458 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of Etsy by 163.1% during the 1st quarter. EntryPoint Capital LLC now owns 3,452 shares of the specialty retailer’s stock worth $237,000 after purchasing an additional 2,140 shares during the period. Vident Advisory LLC increased its position in shares of Etsy by 31.0% during the 1st quarter. Vident Advisory LLC now owns 205,688 shares of the specialty retailer’s stock worth $14,135,000 after purchasing an additional 48,689 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Etsy by 29.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 87,702 shares of the specialty retailer’s stock valued at $6,032,000 after buying an additional 19,862 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. B. Riley lowered their price target on Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Guggenheim dropped their price objective on Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. JMP Securities lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $65.00 target price on shares of Etsy in a research report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $80.00.

Insider Buying and Selling

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

Etsy Stock Performance

ETSY opened at $62.27 on Friday. The business’s 50-day simple moving average is $61.10 and its 200-day simple moving average is $66.27. The company has a market cap of $7.28 billion, a P/E ratio of 28.43, a PEG ratio of 5.11 and a beta of 2.02. Etsy, Inc. has a one year low of $55.08 and a one year high of $102.81.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share 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 analyst estimates of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. As a group, analysts predict that Etsy, Inc. will post 2.48 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.