Dynamic Technology Lab Private Ltd Sells 7,666 Shares of Etsy, Inc. (NASDAQ:ETSY)

Dynamic Technology Lab Private Ltd lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 39.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,911 shares of the specialty retailer’s stock after selling 7,666 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Etsy were worth $965,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. New Mexico Educational Retirement Board increased its stake in shares of Etsy by 4.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 6,400 shares of the specialty retailer’s stock valued at $413,000 after purchasing an additional 300 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Etsy by 11.7% in the 3rd quarter. Empirical Finance LLC now owns 3,954 shares of the specialty retailer’s stock valued at $255,000 after purchasing an additional 414 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Etsy by 3.1% in the 3rd quarter. California Public Employees Retirement System now owns 230,214 shares of the specialty retailer’s stock valued at $14,867,000 after purchasing an additional 7,019 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Etsy by 19.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,131 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 665 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Etsy by 8.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 34,288 shares of the specialty retailer’s stock valued at $2,214,000 after purchasing an additional 2,588 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Up 0.1 %

ETSY stock opened at $64.18 on Wednesday. The firm has a market cap of $7.50 billion, a PE ratio of 29.31, a P/E/G ratio of 5.25 and a beta of 2.00. Etsy, Inc. has a 12-month low of $56.60 and a 12-month high of $102.81. The business has a 50 day moving average of $66.04 and a 200-day moving average of $71.57.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data 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 net margin of 10.75% and a negative return on equity of 67.27%. The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. During the same period last year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts expect that Etsy, Inc. will post 2.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their price target on Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Canaccord Genuity Group reduced their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reduced their price objective on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Guggenheim reduced their price objective on Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group reduced their price objective on Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus target price of $79.96.

Insider Activity

In related 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 transaction, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,968 shares of company stock valued at $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.