Nikko Asset Management Americas Inc. Sells 3,222 Shares of Etsy, Inc. (NASDAQ:ETSY)

Nikko Asset Management Americas Inc. reduced its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,575 shares of the specialty retailer’s stock after selling 3,222 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Etsy were worth $3,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC increased its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after buying an additional 181 shares during the period. Kestra Investment Management LLC bought a new position in Etsy during the fourth quarter worth $38,000. Versant Capital Management Inc raised its stake in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares during the last quarter. Blue Trust Inc. boosted its holdings in Etsy by 95.1% in the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 426 shares during the period. Finally, Denver PWM LLC grew its position in Etsy by 36.1% in the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 289 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Up 1.4 %

Etsy stock opened at $46.29 on Tuesday. The stock has a 50-day simple moving average of $52.25 and a 200 day simple moving average of $53.15. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 12-month low of $43.75 and a 12-month high of $71.72.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ETSY has been the subject of several research reports. Citigroup reduced their target price on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research report on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $45.00 to $55.00 in a research report on Monday, January 13th. Wells Fargo & Company raised their target price on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and lowered their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.78.

About Etsy

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.