Handelsbanken Fonder AB Sells 3,500 Shares of Etsy, Inc. $ETSY

Handelsbanken Fonder AB lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 10.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 30,599 shares of the specialty retailer’s stock after selling 3,500 shares during the period. Handelsbanken Fonder AB’s holdings in Etsy were worth $1,535,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Heritage Wealth Advisors raised its holdings in shares of Etsy by 476.5% during the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 405 shares during the last quarter. Signaturefd LLC boosted its holdings in Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares during the last quarter. SVB Wealth LLC bought a new stake in Etsy in the 1st quarter worth approximately $36,000. Brooklyn Investment Group raised its stake in Etsy by 842.2% during the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 699 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Etsy by 18.7% during the 2nd quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

ETSY has been the subject of several research analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Etsy in a report on Thursday, September 18th. Weiss Ratings raised Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Truist Financial boosted their price target on Etsy from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. BTIG Research reiterated a “buy” rating and issued a $81.00 price objective on shares of Etsy in a research note on Wednesday, November 12th. Finally, BNP Paribas began coverage on shares of Etsy in a report on Monday. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $64.38.

Etsy Stock Up 0.5%

ETSY stock opened at $54.25 on Thursday. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $76.51. The stock has a market cap of $5.35 billion, a P/E ratio of 43.75, a PEG ratio of 10.65 and a beta of 1.87. The business’s 50-day moving average price is $64.80 and its 200-day moving average price is $59.48.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company had revenue of $678.03 million during the quarter, compared to analyst estimates of $655.83 million. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In other Etsy news, CAO Merilee Buckley sold 11,827 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $61.47, for a total value of $727,005.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Bradley Minor sold 3,095 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $57.81, for a total value of $178,921.95. Following the sale, the chief marketing officer directly owned 7,373 shares in the company, valued at approximately $426,233.13. This represents a 29.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 377,605 shares of company stock worth $24,893,486. 2.80% of the stock is currently owned by insiders.

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.