Geneva Capital Management LLC Reduces Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Geneva Capital Management LLC lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,031 shares of the specialty retailer’s stock after selling 4,681 shares during the quarter. Geneva Capital Management LLC owned approximately 0.06% of Etsy worth $5,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETSY. Raymond James & Associates increased its position in Etsy by 2.0% during the 3rd quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock worth $7,140,000 after purchasing an additional 2,204 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Etsy by 7.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 23,736 shares of the specialty retailer’s stock valued at $1,533,000 after acquiring an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Etsy by 18.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,690 shares of the specialty retailer’s stock valued at $5,728,000 after acquiring an additional 14,129 shares during the last quarter. Steph & Co. increased its stake in shares of Etsy by 88.6% during the 3rd quarter. Steph & Co. now owns 2,175 shares of the specialty retailer’s stock valued at $140,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its stake in shares of Etsy by 2.4% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 75,256 shares of the specialty retailer’s stock valued at $4,860,000 after acquiring an additional 1,765 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,968 shares of company stock valued at $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Down 1.0 %

Shares of ETSY traded down $0.64 during trading on Friday, reaching $62.81. The company’s stock had a trading volume of 568,478 shares, compared to its average volume of 3,827,250. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 28.97, a P/E/G ratio of 4.73 and a beta of 2.00. Etsy, Inc. has a twelve month low of $56.60 and a twelve month high of $102.81. The company has a fifty day moving average of $67.06 and a two-hundred day moving average of $71.40.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. B. Riley dropped their price objective on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley dropped their price objective on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Oppenheimer dropped their price objective on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Loop Capital cut Etsy from a “hold” rating to a “sell” rating and decreased their target price for the stock from $70.00 to $50.00 in a report on Thursday, May 2nd. Finally, Wedbush decreased their target price on Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.96.

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.