Schroder Investment Management Group Sells 710,098 Shares of Etsy, Inc. (NASDAQ:ETSY)

Schroder Investment Management Group lessened its holdings in Etsy, Inc. (NASDAQ:ETSY) by 94.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,745 shares of the specialty retailer’s stock after selling 710,098 shares during the quarter. Schroder Investment Management Group’s holdings in Etsy were worth $2,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Jacobs Levy Equity Management Inc. boosted its position in Etsy by 146.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 22,876 shares of the specialty retailer’s stock valued at $1,270,000 after buying an additional 13,577 shares during the period. Investment Management Corp of Ontario purchased a new stake in shares of Etsy in the third quarter valued at approximately $345,000. Quarry LP grew its stake in Etsy by 120.4% in the third quarter. Quarry LP now owns 1,953 shares of the specialty retailer’s stock worth $108,000 after purchasing an additional 1,067 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Etsy by 354.9% during the 3rd quarter. Quantinno Capital Management LP now owns 50,425 shares of the specialty retailer’s stock worth $2,800,000 after purchasing an additional 39,340 shares during the period. Finally, Two Sigma Advisers LP raised its position in Etsy by 558.7% during the 3rd quarter. Two Sigma Advisers LP now owns 216,700 shares of the specialty retailer’s stock valued at $12,033,000 after purchasing an additional 183,800 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ETSY has been the topic of a number of recent research reports. UBS Group dropped their price target on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Truist Financial dropped their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and boosted their price target for the company from $45.00 to $55.00 in a report on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. assumed coverage on Etsy in a research report on Wednesday, March 19th. They set a “neutral” rating and a $50.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average target price of $58.38.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated 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 sale, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,952 shares of company stock valued at $2,554,620. 2.60% of the stock is owned by company insiders.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $44.42 on Monday. The firm’s 50 day simple moving average is $50.45 and its 200-day simple moving average is $52.42. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data 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 net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts anticipate that Etsy, Inc. will post 2.57 earnings per share 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.