Advisors Asset Management Inc. Sells 16,214 Shares of Etsy, Inc. (NASDAQ:ETSY)

Advisors Asset Management Inc. decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,489 shares of the specialty retailer’s stock after selling 16,214 shares during the period. Advisors Asset Management Inc. owned 0.14% of Etsy worth $8,541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ETSY. Lindbrook Capital LLC grew its stake in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Etsy during the 4th quarter worth approximately $38,000. Versant Capital Management Inc increased its stake in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Etsy by 95.1% in the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock worth $46,000 after buying an additional 426 shares during the last quarter. Finally, Denver PWM LLC lifted its stake in shares of Etsy by 36.1% during the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after buying an additional 289 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Down 3.5 %

ETSY opened at $44.66 on Wednesday. The firm’s fifty day simple moving average is $52.06 and its two-hundred day simple moving average is $53.07. Etsy, Inc. has a 52-week low of $43.75 and a 52-week high of $71.72. The company 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 (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the previous year, the firm posted $0.62 EPS. Etsy’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ETSY shares. Canaccord Genuity Group reduced their target price on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Stifel Nicolaus dropped their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Morgan Stanley reduced their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Finally, Loop Capital dropped their price objective on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.78.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is owned by corporate insiders.

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.