Robeco Institutional Asset Management B.V. Trims Stock Position in Etsy, Inc. $ETSY

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Etsy, Inc. by 25%, selling 110,777 shares and now holding 332,732 shares valued at approximately $16.69 million.
• Etsy reported earnings of $0.25 EPS, missing analyst estimates of $0.54 by $0.29, despite a revenue increase of 3.8% year-over-year.
• CEO Josh Silverman sold 150,000 shares at an average price of $72.50, resulting in a significant decrease of 70.53% in his ownership of the stock.

Robeco Institutional Asset Management B.V. cut its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 25.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,732 shares of the specialty retailer's stock after selling 110,777 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.32% of Etsy worth $16,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Cooper Financial Group boosted its stake in Etsy by 31.3% during the first quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer's stock valued at $895,000 after buying an additional 4,523 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Etsy in the 1st quarter valued at about $288,000. Praxis Investment Management Inc. bought a new stake in shares of Etsy during the 1st quarter valued at about $232,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Etsy during the first quarter worth about $922,000. Finally, Hunter Perkins Capital Management LLC bought a new position in shares of Etsy in the first quarter worth approximately $649,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Stock Down 0.2%

Shares of ETSY stock opened at $72.38 on Friday. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 58.37, a PEG ratio of 4.61 and a beta of 1.85. The stock has a fifty day moving average of $61.07 and a 200 day moving average of $54.38. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.52.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Stifel Nicolaus lifted their price objective on shares of Etsy from $45.00 to $66.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Citizens Jmp upgraded shares of Etsy to a "hold" rating in a research report on Thursday, July 10th. Morgan Stanley set a $54.00 price target on Etsy in a research report on Monday, September 29th. Finally, Raymond James Financial upped their price objective on Etsy from $50.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $58.69.

Insider Buying and Selling

In other Etsy news, CEO Josh Silverman sold 150,000 shares of the firm's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $72.50, for a total value of $10,875,000.00. Following the completion of the sale, the chief executive officer directly owned 62,674 shares in the company, valued at $4,543,865. This trade represents a 70.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Goyal Kruti Patel sold 11,944 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $59.31, for a total value of $708,398.64. Following the transaction, the insider owned 47,529 shares in the company, valued at $2,818,944.99. This trade represents a 20.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 542,667 shares of company stock valued at $35,462,857 over the last three months. Corporate insiders own 2.80% of the company's stock.

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.

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