Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its holdings in Etsy, Inc. (NASDAQ:ETSY) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,940 shares of the specialty retailer’s stock after selling 456 shares during the period. Orion Portfolio Solutions LLC’s holdings in Etsy were worth $1,663,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. XTX Topco Ltd boosted its stake in Etsy by 49.7% during the 3rd quarter. XTX Topco Ltd now owns 12,918 shares of the specialty retailer’s stock valued at $717,000 after acquiring an additional 4,291 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Etsy during the third quarter worth about $4,392,000. Two Sigma Advisers LP raised its position in Etsy by 558.7% in the third quarter. Two Sigma Advisers LP now owns 216,700 shares of the specialty retailer’s stock worth $12,033,000 after acquiring an additional 183,800 shares in the last quarter. Stevens Capital Management LP acquired a new stake in Etsy in the 3rd quarter valued at about $271,000. Finally, Quantinno Capital Management LP boosted its position in shares of Etsy by 354.9% during the 3rd quarter. Quantinno Capital Management LP now owns 50,425 shares of the specialty retailer’s stock valued at $2,800,000 after purchasing an additional 39,340 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.15, for a total transaction of $39,862.50. Following the completion of the transaction, the insider now owns 25,121 shares in the company, valued at $1,335,181.15. This trade represents a 2.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $30,257.12. This trade represents a 70.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,069 shares of company stock worth $261,888. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ETSY. UBS Group cut their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Citigroup decreased their price target on Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Raymond James cut their price objective on Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus reduced their price objective on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, Truist Financial dropped their target price on shares of Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and an average price target of $64.71.

Etsy Trading Up 0.7 %

Etsy stock opened at $58.98 on Friday. The company has a market capitalization of $6.63 billion, a P/E ratio of 30.09, a P/E/G ratio of 6.96 and a beta of 1.99. The firm’s fifty day simple moving average is $52.83 and its 200-day simple moving average is $56.05. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $89.58.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. On average, equities research analysts predict that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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.