Alliancebernstein L.P. Decreases Stake in Etsy, Inc. (NASDAQ:ETSY)

Alliancebernstein L.P. lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,906 shares of the specialty retailer’s stock after selling 4,088 shares during the quarter. Alliancebernstein L.P. owned approximately 0.06% of Etsy worth $3,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ETSY. Lindbrook Capital LLC boosted its position in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 181 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock worth $144,000 after purchasing an additional 218 shares during the period. Heron Bay Capital Management grew its stake in shares of Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock worth $1,072,000 after purchasing an additional 258 shares during the last quarter. Denver PWM LLC increased its holdings in Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after purchasing an additional 289 shares during the period. Finally, Gagnon Securities LLC raised its position in Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after purchasing an additional 376 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETSY has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Truist Financial decreased their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company cut their target price on shares of Etsy from $47.00 to $46.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and decreased their price target for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.71.

Insider Buying and Selling at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $28,593.60. This represents a 70.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,952 shares of company stock valued at $2,554,620. 2.60% of the stock is owned by company insiders.

Etsy Stock Performance

NASDAQ ETSY opened at $43.65 on Tuesday. Etsy, Inc. has a one year low of $40.05 and a one year high of $71.72. The stock has a 50-day moving average of $48.55 and a 200 day moving average of $51.77. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. On average, equities 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.