National Asset Management Inc. Sells 467 Shares of Etsy, Inc. (NASDAQ:ETSY)

National Asset Management Inc. lessened its holdings in Etsy, Inc. (NASDAQ:ETSY) by 25.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,377 shares of the specialty retailer’s stock after selling 467 shares during the period. National Asset Management Inc.’s holdings in Etsy were worth $284,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Corsicana & Co. bought a new position in Etsy in the second quarter valued at about $25,000. Harbour Investments Inc. bought a new position in Etsy in the first quarter valued at about $28,000. E Fund Management Co. Ltd. bought a new position in Etsy in the first quarter valued at about $45,000. Capital Analysts LLC grew its position in Etsy by 109.1% in the second quarter. Capital Analysts LLC now owns 230 shares of the specialty retailer’s stock valued at $47,000 after acquiring an additional 120 shares during the last quarter. Finally, Wagner Wealth Management LLC bought a new position in Etsy in the first quarter valued at about $48,000. Hedge funds and other institutional investors own 87.30% of the company’s stock.

In other news, insider Goyal Kruti Patel sold 6,800 shares of the company’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $200.63, for a total transaction of $1,364,284.00. Following the transaction, the insider now directly owns 39,121 shares of the company’s stock, valued at $7,848,846.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Merilee Buckley sold 907 shares of the company’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $200.99, for a total value of $182,297.93. Following the transaction, the chief accounting officer now directly owns 1,166 shares in the company, valued at $234,354.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,172 shares of company stock worth $14,033,402. Insiders own 3.80% of the company’s stock.

Several research firms have recently weighed in on ETSY. Wedbush reduced their price target on Etsy from $204.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, August 5th. Truist Securities boosted their price target on Etsy from $215.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, June 16th. Zacks Investment Research upgraded Etsy from a “sell” rating to a “hold” rating and set a $190.00 price target on the stock in a report on Monday, August 9th. Needham & Company LLC restated a “buy” rating and set a $250.00 price target on shares of Etsy in a report on Monday, August 2nd. Finally, Loop Capital reduced their price target on Etsy from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, August 5th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $225.59.

Shares of ETSY opened at $222.85 on Friday. Etsy, Inc. has a 52-week low of $113.01 and a 52-week high of $251.86. The company has a debt-to-equity ratio of 4.36, a quick ratio of 6.61 and a current ratio of 6.61. The business’s 50 day moving average price is $204.71 and its two-hundred day moving average price is $195.47. The firm has a market cap of $28.21 billion, a PE ratio of 64.41, a price-to-earnings-growth ratio of 3.87 and a beta of 1.62.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Etsy had a return on equity of 73.54% and a net margin of 22.45%. The firm had revenue of $528.90 million for the quarter, compared to analyst estimates of $525.70 million. During the same period in the previous year, the firm earned $0.75 earnings per share. The company’s revenue was up 23.5% compared to the same quarter last year. Research analysts predict that Etsy, Inc. will post 2.94 EPS for the current fiscal year.

Etsy Company Profile

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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