Etsy Inc $ETSY Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its Etsy stake by 54.7% in Q4 to 340,866 shares (about 0.35% of the company), worth roughly $18.9 million.
• Insider selling picked up: insiders sold 43,971 shares totaling about $2.33 million in the last quarter — including sales by Director Charles A. Ballard and Josh Silverman — leaving insiders with 2.80% ownership.
• Board authorized a $750 million buyback (up to ~14.2% of shares); Etsy also beat Q4 EPS estimates ($0.92 vs. $0.88), while analysts maintain a consensus "Hold" with an average target of $61.67.

Robeco Institutional Asset Management B.V. raised its stake in Etsy Inc (NYSE:ETSY - Free Report) by 54.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 340,866 shares of the company's stock after acquiring an additional 120,563 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.35% of Etsy worth $18,898,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its holdings in Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company's stock valued at $88,000 after acquiring an additional 158 shares during the period. Alamea Verwaltungs GmbH lifted its holdings in Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company's stock valued at $370,000 after acquiring an additional 169 shares during the period. GAMMA Investing LLC lifted its holdings in Etsy by 6.6% in the fourth quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock valued at $185,000 after acquiring an additional 205 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Etsy by 3.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,831 shares of the company's stock valued at $379,000 after acquiring an additional 231 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in Etsy by 5.2% in the third quarter. Ballentine Partners LLC now owns 4,951 shares of the company's stock valued at $329,000 after acquiring an additional 243 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Charles Andrew Ballard sold 1,790 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total value of $99,774.60. Following the transaction, the director owned 4,006 shares of the company's stock, valued at $223,294.44. This represents a 30.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Josh Silverman sold 21,666 shares of the company's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $53.26, for a total value of $1,153,931.16. Following the completion of the transaction, the insider directly owned 90,661 shares in the company, valued at approximately $4,828,604.86. This trade represents a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,971 shares of company stock valued at $2,326,623 in the last quarter. Insiders own 2.80% of the company's stock.

Etsy Price Performance

Shares of ETSY opened at $56.01 on Wednesday. The stock's 50 day moving average price is $52.15. The stock has a market capitalization of $5.39 billion, a PE ratio of 42.76, a price-to-earnings-growth ratio of 3.53 and a beta of 1.77. Etsy Inc has a one year low of $41.51 and a one year high of $76.51.

Etsy (NYSE:ETSY - Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $881.64 million during the quarter. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.

Etsy declared that its board has initiated a stock buyback program on Thursday, December 18th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 14.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on ETSY shares. Canaccord Genuity Group decreased their price target on Etsy from $80.00 to $72.00 and set a "buy" rating for the company in a report on Friday, February 20th. Citigroup restated a "buy" rating on shares of Etsy in a research report on Tuesday, December 30th. Zacks Research upgraded Etsy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. Barclays upgraded Etsy from an "equal weight" rating to an "overweight" rating and set a $72.00 price objective for the company in a research report on Thursday, February 19th. Finally, Wedbush cut their price objective on Etsy from $72.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Etsy currently has a consensus rating of "Hold" and an average price target of $61.67.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

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