Handelsbanken Fonder AB Sells 94,754 Shares of Etsy, Inc. (NASDAQ:ETSY)

Handelsbanken Fonder AB trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 32.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 194,970 shares of the specialty retailer’s stock after selling 94,754 shares during the period. Handelsbanken Fonder AB’s holdings in Etsy were worth $15,802,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ETSY. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Etsy by 1.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,653 shares of the specialty retailer’s stock valued at $944,000 after purchasing an additional 216 shares during the last quarter. abrdn plc lifted its holdings in shares of Etsy by 77.4% during the fourth quarter. abrdn plc now owns 58,652 shares of the specialty retailer’s stock valued at $4,754,000 after purchasing an additional 25,599 shares during the last quarter. Greenleaf Trust purchased a new position in shares of Etsy during the fourth quarter valued at approximately $210,000. Vontobel Holding Ltd. lifted its holdings in shares of Etsy by 4.4% during the fourth quarter. Vontobel Holding Ltd. now owns 47,203 shares of the specialty retailer’s stock valued at $3,826,000 after purchasing an additional 1,994 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Etsy during the fourth quarter valued at approximately $2,273,000. 99.53% of the stock is owned by institutional investors.

Etsy Stock Performance

Shares of Etsy stock opened at $68.35 on Wednesday. The company has a market capitalization of $8.10 billion, a P/E ratio of 30.51, a P/E/G ratio of 4.62 and a beta of 2.01. The company has a fifty day moving average of $69.30 and a 200 day moving average of $71.53. Etsy, Inc. has a fifty-two week low of $58.20 and a fifty-two week high of $103.25.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The business had revenue of $842.32 million for the quarter, compared to analysts’ expectations of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. Analysts forecast that Etsy, Inc. will post 2.58 EPS for the current year.

Insiders Place Their Bets

In other Etsy news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock worth $4,836,827 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ETSY shares. The Goldman Sachs Group lowered shares of Etsy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $84.00 to $80.00 in a report on Wednesday, January 10th. BTIG Research decreased their price objective on shares of Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Morgan Stanley restated an “underweight” rating and issued a $55.00 price objective (down from $65.00) on shares of Etsy in a report on Thursday, April 18th. Evercore ISI decreased their price objective on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $84.88.

Etsy 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.