Geneva Capital Management LLC Sells 4,681 Shares of Etsy, Inc. (NASDAQ:ETSY)

Geneva Capital Management LLC trimmed its position in Etsy, Inc. (NASDAQ:ETSY) by 6.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 68,031 shares of the specialty retailer’s stock after selling 4,681 shares during the period. Geneva Capital Management LLC’s holdings in Etsy were worth $5,514,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ETSY. Bares Capital Management Inc. increased its stake in shares of Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock worth $261,143,000 after buying an additional 1,480,655 shares during the period. Van ECK Associates Corp grew its position in shares of Etsy by 40.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after buying an additional 1,047,811 shares during the period. Epoch Investment Partners Inc. grew its position in shares of Etsy by 107.4% in the 3rd quarter. Epoch Investment Partners Inc. now owns 710,224 shares of the specialty retailer’s stock worth $45,866,000 after buying an additional 367,759 shares during the period. National Bank of Canada FI grew its position in shares of Etsy by 313.1% in the 4th quarter. National Bank of Canada FI now owns 480,554 shares of the specialty retailer’s stock worth $38,963,000 after buying an additional 364,219 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Etsy by 46.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,115,605 shares of the specialty retailer’s stock worth $72,046,000 after buying an additional 352,255 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Down 1.0 %

ETSY traded down $0.64 during trading on Friday, reaching $62.81. The company had a trading volume of 568,478 shares, compared to its average volume of 3,827,250. The stock has a market cap of $7.34 billion, a P/E ratio of 28.97, a PEG ratio of 4.73 and a beta of 2.00. The business has a 50 day simple moving average of $67.06 and a 200-day simple moving average of $71.40. Etsy, Inc. has a 52 week low of $56.60 and a 52 week high of $102.81.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ETSY. Citigroup reduced their target price on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Wedbush reduced their price target on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. JMP Securities lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group cut their price objective on shares of Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.96.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now directly owns 19,682 shares in the company, valued at $1,299,208.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the transaction, the insider now owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is currently owned by insiders.

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.