ProShare Advisors LLC Sells 18,076 Shares of Etsy Inc $ETSY

ProShare Advisors LLC reduced its position in Etsy Inc (NYSE:ETSY) by 40.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,952 shares of the company’s stock after selling 18,076 shares during the period. ProShare Advisors LLC’s holdings in Etsy were worth $1,927,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ETSY. William Blair Investment Management LLC purchased a new stake in shares of Etsy during the second quarter worth about $120,417,000. Arrowstreet Capital Limited Partnership boosted its holdings in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after purchasing an additional 1,112,520 shares during the last quarter. Findlay Park Partners LLP purchased a new position in Etsy in the second quarter valued at about $66,170,000. Renaissance Technologies LLC grew its stake in Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after purchasing an additional 594,768 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Etsy during the 2nd quarter valued at approximately $42,781,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Etsy

In related news, insider Josh Silverman sold 41,500 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $92.13, for a total transaction of $3,823,395.00. Following the completion of the transaction, the insider owned 221,117 shares of the company’s stock, valued at $20,371,509.21. This trade represents a 15.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marla J. Blow sold 6,000 shares of Etsy stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $92.67, for a total value of $556,020.00. Following the transaction, the director directly owned 7,024 shares in the company, valued at approximately $650,914.08. The trade was a 46.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 142,908 shares of company stock worth $12,443,190 in the last quarter. Company insiders own 2.50% of the company’s stock.

Etsy Price Performance

Shares of NYSE ETSY traded down $1.45 during midday trading on Friday, hitting $90.08. 3,098,896 shares of the company’s stock were exchanged, compared to its average volume of 3,522,682. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $97.85. The firm has a market cap of $7.77 billion, a P/E ratio of 10.63, a PEG ratio of 1.96 and a beta of 1.76. The stock’s 50 day moving average price is $79.61 and its 200-day moving average price is $68.98.

Etsy (NYSE:ETSY) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $7.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $6.55. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The business had revenue of $692.47 million for the quarter, compared to analysts’ expectations of $669.04 million. During the same period in the previous year, the business earned $0.63 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. On average, analysts expect that Etsy Inc will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ETSY. Morgan Stanley lifted their price objective on Etsy from $73.00 to $79.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. BTIG Research upped their price objective on Etsy from $90.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Weiss Ratings raised Etsy from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Finally, Piper Sandler lifted their target price on Etsy from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.07.

Etsy Company Profile

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.