Rovin Capital UT ADV Cuts Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Rovin Capital UT ADV lowered its stake in Etsy, Inc. (NASDAQ:ETSY) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,186 shares of the specialty retailer’s stock after selling 308 shares during the period. Rovin Capital UT ADV’s holdings in Etsy were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Polen Capital Management LLC grew its holdings in Etsy by 83.3% in the 4th quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after acquiring an additional 15,598 shares during the last quarter. MCF Advisors LLC increased its holdings in Etsy by 23,542.9% during the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after purchasing an additional 3,296 shares during the period. Coldstream Capital Management Inc. bought a new position in Etsy during the 4th quarter valued at approximately $267,000. TD Asset Management Inc lifted its holdings in Etsy by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after buying an additional 221,275 shares during the period. Finally, Artisan Partners Limited Partnership grew its position in shares of Etsy by 2.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after buying an additional 30,561 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 592 shares in the company, valued at $38,882.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,694 shares of company stock valued at $169,687. 2.60% of the stock is owned by insiders.

Etsy Stock Performance

Shares of ETSY traded up $0.18 on Friday, hitting $53.91. 2,014,211 shares of the stock traded hands, compared to its average volume of 3,624,843. The company has a market capitalization of $6.30 billion, a PE ratio of 24.62, a P/E/G ratio of 5.02 and a beta of 2.02. Etsy, Inc. has a one year low of $51.45 and a one year high of $89.58. The business has a 50 day simple moving average of $59.15 and a 200 day simple moving average of $64.89.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same period in the previous year, the business posted $0.83 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts expect that Etsy, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BTIG Research decreased their target price on Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Guggenheim dropped their target price on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Wolfe Research started coverage on shares of Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Wells Fargo & Company lowered their price objective on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Finally, Citigroup reduced their target price on Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Etsy presently has a consensus rating of “Hold” and a consensus price target of $73.68.

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.