Trillium Asset Management LLC Trims Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Trillium Asset Management LLC trimmed its position in Etsy, Inc. (NASDAQ:ETSY) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,348 shares of the specialty retailer’s stock after selling 12,927 shares during the quarter. Trillium Asset Management LLC owned about 0.07% of Etsy worth $4,038,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. DJE Kapital AG acquired a new position in Etsy in the fourth quarter valued at approximately $983,000. Pacer Advisors Inc. lifted its stake in shares of Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after purchasing an additional 411,165 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Etsy by 258.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock worth $6,576,000 after purchasing an additional 85,396 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock valued at $59,820,000 after buying an additional 122,126 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction 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 in the company, valued at $260,458.20. This represents a 81.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the sale, the insider now owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. This represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,666 shares of company stock worth $1,286,445. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Loop Capital lowered their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and lowered their price objective for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th. UBS Group decreased their price target on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price objective on Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald cut their price objective on Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $58.42.

Etsy Stock Up 0.1 %

Shares of ETSY opened at $44.72 on Thursday. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 52-week low of $43.43 and a 52-week high of $71.72. The stock has a 50 day moving average price of $51.88 and a 200 day moving average price of $53.02.

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. On average, equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal 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.