Etsy Inc $ETSY Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in shares of Etsy Inc (NYSE:ETSY) by 40.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,952 shares of the company’s stock after selling 18,076 shares during the quarter. ProShare Advisors LLC’s holdings in Etsy were worth $1,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETSY. Renaissance Technologies LLC boosted its stake in Etsy by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after buying an additional 594,768 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after acquiring an additional 1,112,520 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Etsy by 48.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock valued at $121,532,000 after acquiring an additional 523,092 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Etsy during the 2nd quarter worth about $120,417,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Etsy by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company’s stock worth $78,642,000 after acquiring an additional 100,542 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Etsy from $59.00 to $80.00 and gave the company an “underweight” rating in a report on Thursday, October 29th. UBS Group increased their price target on shares of Etsy from $86.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Rosenblatt Securities lifted their price target on shares of Etsy from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, October 29th. B. Riley Financial boosted their price objective on shares of Etsy from $82.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings upgraded Etsy from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $94.07.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 5,076 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $90.00, for a total transaction of $456,840.00. Following the transaction, the chief accounting officer directly owned 5,076 shares of the company’s stock, valued at approximately $456,840. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Colburn, III sold 8,252 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the transaction, the insider owned 6,503 shares of the company’s stock, valued at approximately $533,831.27. This represents a 55.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 142,908 shares of company stock valued at $12,443,190 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Etsy Stock Down 1.6%

Shares of Etsy stock traded down $1.45 during trading hours on Friday, hitting $90.08. The company’s stock had a trading volume of 3,098,896 shares, compared to its average volume of 3,522,682. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $97.85. The business has a fifty day moving average of $79.61 and a 200 day moving average of $68.98. The company has a market capitalization of $7.77 billion, a PE ratio of 10.63, a P/E/G ratio of 1.96 and a beta of 1.76.

Etsy (NYSE:ETSY) last posted its earnings results on Wednesday, October 28th. The company reported $7.31 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $669.04 million. During the same quarter in the previous year, the business posted $0.63 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that Etsy Inc will post 4.31 earnings per share for the current fiscal year.

About Etsy

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.