Arrowstreet Capital Limited Partnership Sells 133,176 Shares of Etsy, Inc. (NASDAQ:ETSY)

Arrowstreet Capital Limited Partnership decreased its position in Etsy, Inc. (NASDAQ:ETSY) by 3.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,742,714 shares of the specialty retailer’s stock after selling 133,176 shares during the period. Arrowstreet Capital Limited Partnership owned about 3.33% of Etsy worth $197,952,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ETSY. Cerity Partners LLC grew its position in Etsy by 28.9% in the third quarter. Cerity Partners LLC now owns 22,884 shares of the specialty retailer’s stock valued at $1,271,000 after purchasing an additional 5,128 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of Etsy in the third quarter valued at about $222,000. CreativeOne Wealth LLC acquired a new stake in shares of Etsy in the third quarter valued at about $238,000. Point72 Hong Kong Ltd bought a new stake in Etsy during the third quarter worth about $1,876,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Etsy in the third quarter valued at approximately $2,960,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In related news, 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 transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly 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 this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred 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 directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock valued at $1,286,445 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Etsy in a research note on Wednesday, March 19th. They set a “neutral” rating and a $50.00 price objective on the stock. Citigroup cut their price target on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. UBS Group lowered their price objective on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Loop Capital cut 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have given 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.42.

Etsy Trading Down 0.5 %

NASDAQ ETSY opened at $46.69 on Monday. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 1-year low of $43.43 and a 1-year high of $71.72. The company has a 50 day moving average of $50.93 and a 200-day moving average of $52.64.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.