Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Etsy, Inc. (NASDAQ:ETSY) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,653 shares of the specialty retailer’s stock after acquiring an additional 216 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Etsy were worth $944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETSY. AE Wealth Management LLC lifted its stake in Etsy by 7.9% in the third quarter. AE Wealth Management LLC now owns 13,680 shares of the specialty retailer’s stock worth $883,000 after acquiring an additional 998 shares during the period. Exchange Traded Concepts LLC lifted its position in Etsy by 107.4% during the third quarter. Exchange Traded Concepts LLC now owns 17,739 shares of the specialty retailer’s stock valued at $1,146,000 after buying an additional 9,186 shares during the period. Czech National Bank lifted its position in Etsy by 47.2% during the third quarter. Czech National Bank now owns 21,500 shares of the specialty retailer’s stock valued at $1,388,000 after buying an additional 6,897 shares during the period. Handelsbanken Fonder AB lifted its position in Etsy by 46.5% during the third quarter. Handelsbanken Fonder AB now owns 289,724 shares of the specialty retailer’s stock valued at $18,710,000 after buying an additional 91,954 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Etsy by 8.2% during the third quarter. Harbor Capital Advisors Inc. now owns 5,993 shares of the specialty retailer’s stock valued at $387,000 after buying an additional 456 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Up 0.5 %

ETSY stock opened at $67.20 on Friday. Etsy, Inc. has a twelve month low of $58.20 and a twelve month high of $102.81. The stock has a market cap of $7.87 billion, a P/E ratio of 30.00, a PEG ratio of 4.76 and a beta of 2.01. The business’s 50-day moving average price is $69.12 and its 200-day moving average price is $71.50.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The firm had revenue of $842.32 million for the quarter, compared to analysts’ expectations of $827.40 million. On average, equities research analysts expect that Etsy, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the transaction, 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 can be accessed through this link. In related news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, 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 can be accessed through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BTIG Research lowered their price objective on Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company lowered their price objective on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Piper Sandler raised their price objective on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Wedbush lowered their price objective on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group downgraded Etsy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $84.00 to $80.00 in a report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $84.46.

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.