OMERS ADMINISTRATION Corp Trims Holdings in Etsy, Inc. (NASDAQ:ETSY)

OMERS ADMINISTRATION Corp reduced its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 34.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,858 shares of the specialty retailer’s stock after selling 11,500 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Etsy were worth $1,156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC raised its position in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Etsy by 8.7% during the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock valued at $144,000 after acquiring an additional 218 shares in the last quarter. Heron Bay Capital Management raised its position in shares of Etsy by 1.3% during the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock valued at $1,072,000 after acquiring an additional 258 shares in the last quarter. Denver PWM LLC raised its position in shares of Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 289 shares in the last quarter. Finally, Gagnon Securities LLC raised its position in shares of Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after acquiring an additional 376 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Price Performance

ETSY opened at $47.02 on Friday. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The business has a 50-day moving average of $45.37 and a 200-day moving average of $50.88. The company has a market capitalization of $4.90 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $651.18 million for the quarter, compared to analysts’ expectations of $642.22 million. During the same period last year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $28,593.60. This trade represents a 70.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. The trade was a 81.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,418 shares of company stock valued at $3,601,377 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ETSY shares. Loop Capital dropped their price target on Etsy from $40.00 to $37.00 and set a “sell” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley dropped their target price on Etsy from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. B. Riley dropped their target price on Etsy from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on Etsy from $46.00 to $40.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Finally, Evercore ISI dropped their target price on Etsy from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $50.14.

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.