Clearbridge Investments LLC Sells 114,807 Shares of Etsy, Inc. (NASDAQ:ETSY)

Clearbridge Investments LLC lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,477,215 shares of the specialty retailer’s stock after selling 114,807 shares during the period. Clearbridge Investments LLC owned 2.12% of Etsy worth $170,234,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. CVA Family Office LLC purchased a new stake in shares of Etsy in the fourth quarter worth $27,000. Sunbelt Securities Inc. raised its position in shares of Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares in the last quarter. Larson Financial Group LLC raised its position in Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Etsy during the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of recent research reports. BTIG Research reduced their price objective on Etsy from $87.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC reduced their price objective on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. B. Riley cut their target price on Etsy from $91.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Oppenheimer cut their target price on Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus price target of $79.92.

Etsy Trading Down 2.6 %

ETSY stock traded down $1.60 during trading on Tuesday, reaching $60.79. The stock had a trading volume of 3,092,324 shares, compared to its average volume of 3,602,005. Etsy, Inc. has a 52 week low of $55.08 and a 52 week high of $102.81. The stock’s 50 day moving average is $61.29 and its two-hundred day moving average is $66.54. The firm has a market cap of $7.11 billion, a PE ratio of 27.76, a PEG ratio of 5.13 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. During the same period last year, the business earned $0.53 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts anticipate that Etsy, Inc. will post 2.48 EPS for the current year.

Insider Activity at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.