XTX Topco Ltd Lowers Stake in Etsy, Inc. (NASDAQ:ETSY)

XTX Topco Ltd lessened its position in Etsy, Inc. (NASDAQ:ETSY) by 31.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,856 shares of the specialty retailer’s stock after selling 4,062 shares during the quarter. XTX Topco Ltd’s holdings in Etsy were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after purchasing an additional 411,165 shares during the last quarter. 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. Harbor Capital Advisors Inc. raised its stake in shares of Etsy by 1.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,042 shares of the specialty retailer’s stock worth $2,594,000 after acquiring an additional 816 shares in the last quarter. Cooper Financial Group lifted its holdings in shares of Etsy by 4.7% in the 4th quarter. Cooper Financial Group now owns 14,439 shares of the specialty retailer’s stock worth $764,000 after acquiring an additional 642 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in shares of Etsy during the 4th quarter valued at $280,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the sale, the chief executive officer now directly owns 31,818 shares of the company’s stock, valued at $1,534,582.14. This trade represents a 40.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $28,593.60. The trade was a 70.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,952 shares of company stock valued at $2,554,620. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Etsy from $50.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Canaccord Genuity Group reduced their price target on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Truist Financial lowered their price objective on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research 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 report on Wednesday, April 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $56.42.

Etsy Stock Up 3.8 %

Shares of ETSY opened at $44.15 on Monday. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $71.72. The stock has a market cap of $4.73 billion, a P/E ratio of 18.63, a P/E/G ratio of 2.57 and a beta of 2.15. The business’s 50 day moving average price is $47.69 and its 200-day moving average price is $51.51.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current 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.