First Horizon Advisors Inc. Sells 268 Shares of Etsy, Inc. (NASDAQ:ETSY)

First Horizon Advisors Inc. trimmed its stake in Etsy, Inc. (NASDAQ:ETSY) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 496 shares of the specialty retailer’s stock after selling 268 shares during the period. First Horizon Advisors Inc.’s holdings in Etsy were worth $26,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ETSY. Blue Trust Inc. grew its position in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Kestra Investment Management LLC bought a new position in Etsy during the fourth quarter valued at approximately $38,000. Capital Performance Advisors LLP bought a new position in Etsy during the third quarter valued at approximately $43,000. Versant Capital Management Inc grew its position in Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Etsy during the third quarter valued at approximately $59,000. 99.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Shares of Etsy stock opened at $51.19 on Friday. The firm has a market capitalization of $5.48 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.57 and a beta of 2.00. The business has a fifty day simple moving average of $53.89 and a two-hundred day simple moving average of $53.73. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $73.48.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. The business had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Truist Financial reduced their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. UBS Group reduced their price target on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. JMP Securities reissued a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Finally, Morgan Stanley dropped their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Etsy currently has a consensus rating of “Hold” and an average price target of $58.78.

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.