Handelsbanken Fonder AB Grows Stake in Etsy, Inc. (NASDAQ:ETSY)

Handelsbanken Fonder AB lifted its stake in Etsy, Inc. (NASDAQ:ETSY) by 22.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,699 shares of the specialty retailer’s stock after purchasing an additional 6,260 shares during the quarter. Handelsbanken Fonder AB’s holdings in Etsy were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ETSY. Blue Trust Inc. lifted its stake in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after buying an additional 231 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Etsy during the 4th quarter valued at about $38,000. Capital Performance Advisors LLP bought a new stake in shares of Etsy in the third quarter worth approximately $43,000. Versant Capital Management Inc raised its holdings in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Etsy during the third quarter valued at approximately $59,000. Institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ETSY shares. Truist Financial dropped their price target on Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Stifel Nicolaus dropped their price objective on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Cantor Fitzgerald reduced their price objective on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Finally, Morgan Stanley cut their price target on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Down 0.2 %

NASDAQ:ETSY opened at $53.13 on Wednesday. The company has a fifty day simple moving average of $54.10 and a two-hundred day simple moving average of $53.76. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $74.46. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. On average, analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy announced that its board has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.