Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 29.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,241 shares of the specialty retailer’s stock after selling 9,887 shares during the period. Level Four Advisory Services LLC’s holdings in Etsy were worth $1,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in shares of Etsy by 28.9% during the third quarter. Cerity Partners LLC now owns 22,884 shares of the specialty retailer’s stock valued at $1,271,000 after acquiring an additional 5,128 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in Etsy during the 3rd quarter valued at approximately $222,000. CreativeOne Wealth LLC purchased a new stake in Etsy during the 3rd quarter worth approximately $238,000. BlueCrest Capital Management Ltd acquired a new position in shares of Etsy in the 3rd quarter valued at approximately $222,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Etsy during the 3rd quarter valued at approximately $1,876,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ETSY shares. Loop Capital dropped their price target 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. Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Citigroup lowered their price objective on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Canaccord Genuity Group reduced their target price on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Four investment 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 stock. According to MarketBeat, Etsy has an average rating of “Hold” and an average price target of $58.42.

Insiders Place Their Bets

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the transaction, the insider now owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock worth $1,286,445 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Shares of ETSY stock opened at $46.69 on Friday. Etsy, Inc. has a 1 year low of $43.43 and a 1 year high of $71.72. The firm has a market capitalization of $5.00 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. The stock has a fifty day moving average of $50.93 and a two-hundred day moving average of $52.63.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (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 during the quarter, compared to analyst estimates of $861.37 million. During the same quarter in the prior year, the firm posted $0.62 EPS. Etsy’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts predict that Etsy, Inc. will post 2.57 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.