Los Angeles Capital Management LLC Sells 7,905 Shares of Etsy, Inc. (NASDAQ:ETSY)

Los Angeles Capital Management LLC trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 79.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,012 shares of the specialty retailer’s stock after selling 7,905 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Etsy were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Lindbrook Capital LLC grew its stake in Etsy by 32.4% during the third quarter. Lindbrook Capital LLC now owns 188 shares of the specialty retailer’s stock worth $39,000 after buying an additional 46 shares during the last quarter. RFG Advisory LLC grew its stake in Etsy by 2.4% during the third quarter. RFG Advisory LLC now owns 2,013 shares of the specialty retailer’s stock worth $419,000 after buying an additional 47 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Etsy by 1.0% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 5,771 shares of the specialty retailer’s stock worth $1,188,000 after buying an additional 56 shares during the last quarter. Quilter Plc grew its stake in Etsy by 4.0% during the second quarter. Quilter Plc now owns 1,512 shares of the specialty retailer’s stock worth $312,000 after buying an additional 58 shares during the last quarter. Finally, Cooper Financial Group grew its stake in Etsy by 3.8% during the third quarter. Cooper Financial Group now owns 1,610 shares of the specialty retailer’s stock worth $335,000 after buying an additional 59 shares during the last quarter. 88.26% of the stock is currently owned by hedge funds and other institutional investors.

ETSY opened at $163.70 on Friday. The firm’s fifty day moving average is $236.60 and its two-hundred day moving average is $219.46. The company has a debt-to-equity ratio of 4.33, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a market cap of $20.75 billion, a PE ratio of 48.43, a price-to-earnings-growth ratio of 2.61 and a beta of 1.55. Etsy, Inc. has a twelve month low of $153.80 and a twelve month high of $307.75.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, November 3rd. The specialty retailer reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.12. The company had revenue of $532.43 million for the quarter, compared to analyst estimates of $518.51 million. Etsy had a net margin of 21.55% and a return on equity of 77.17%. During the same period last year, the business posted $0.70 earnings per share. Equities analysts forecast that Etsy, Inc. will post 3.01 EPS for the current fiscal year.

In other news, CAO Merilee Buckley sold 907 shares of the stock in a transaction on Monday, November 1st. The shares were sold at an average price of $243.89, for a total transaction of $221,208.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Goyal Kruti Patel sold 1,492 shares of the stock in a transaction on Monday, October 18th. The stock was sold at an average price of $225.00, for a total transaction of $335,700.00. The disclosure for this sale can be found here. Insiders have sold 264,153 shares of company stock valued at $66,520,760 in the last three months. 3.80% of the stock is owned by insiders.

ETSY has been the topic of a number of research reports. UBS Group initiated coverage on shares of Etsy in a research report on Thursday, December 2nd. They set a “sell” rating and a $215.00 target price on the stock. BTIG Research upped their target price on shares of Etsy from $238.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, November 4th. Stifel Nicolaus reduced their target price on shares of Etsy from $265.00 to $230.00 in a research report on Wednesday. Needham & Company LLC upped their target price on shares of Etsy from $265.00 to $325.00 and gave the stock a “buy” rating in a research report on Monday, November 22nd. Finally, Truist Securities upped their target price on shares of Etsy from $215.00 to $274.00 and gave the stock a “buy” rating in a research report on Thursday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $252.04.

About Etsy

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

Further Reading: Reverse Stock Split

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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