Harel Insurance Investments & Financial Services Ltd. Invests $2.27 Million in Etsy, Inc. (NASDAQ:ETSY)

Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 27,750 shares of the specialty retailer's stock, valued at approximately $2,273,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Etsy by 23.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer's stock worth $19,977,000 after buying an additional 57,785 shares during the last quarter. Northern Trust Corp raised its position in shares of Etsy by 4.3% during the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer's stock valued at $77,118,000 after buying an additional 48,934 shares during the period. DAVENPORT & Co LLC lifted its holdings in Etsy by 201.5% in the third quarter. DAVENPORT & Co LLC now owns 579,791 shares of the specialty retailer's stock valued at $37,291,000 after acquiring an additional 387,467 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Etsy in the fourth quarter valued at $38,490,000. Finally, CVA Family Office LLC acquired a new position in shares of Etsy in the 4th quarter valued at $27,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ETSY shares. Morgan Stanley reduced their price objective on shares of Etsy from $66.00 to $64.00 and set an "equal weight" rating on the stock in a report on Thursday, February 22nd. Wedbush cut their target price on Etsy from $85.00 to $80.00 and set a "neutral" rating on the stock in a research report on Thursday, February 22nd. Evercore ISI lowered their price target on Etsy from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Etsy from $80.00 to $65.00 and set a "hold" rating on the stock in a report on Wednesday, April 10th. Finally, Truist Financial dropped their price objective on shares of Etsy from $87.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $87.84.

Etsy Price Performance

NASDAQ ETSY traded down $0.32 during mid-day trading on Monday, hitting $66.73. The company's stock had a trading volume of 3,000,866 shares, compared to its average volume of 3,792,812. The firm has a market capitalization of $7.91 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 4.68 and a beta of 2.01. Etsy, Inc. has a 52-week low of $58.20 and a 52-week high of $104.93. The stock's fifty day simple moving average is $70.29 and its two-hundred day simple moving average is $71.36.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting analysts' consensus estimates of $0.78. The business had revenue of $842.32 million for the quarter, compared to the consensus estimate of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. On average, equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares of the company's stock, valued at $943,571.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares of the company's stock, valued at approximately $943,571.16. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock valued at $4,836,827 over the last three months. 2.60% of the stock is owned by company insiders.

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.