Etsy, Inc. (NASDAQ:ETSY) Position Trimmed by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 32.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,970 shares of the specialty retailer's stock after selling 94,754 shares during the quarter. Handelsbanken Fonder AB owned about 0.16% of Etsy worth $15,802,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ETSY. Connor Clark & Lunn Investment Management Ltd. grew its position in Etsy by 23.0% in 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 acquiring an additional 57,785 shares in the last quarter. Northern Trust Corp increased its stake in shares of Etsy by 4.3% in the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer's stock worth $77,118,000 after buying an additional 48,934 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Etsy in the fourth quarter valued at about $2,273,000. International Assets Investment Management LLC bought a new position in shares of Etsy during the fourth quarter valued at about $38,490,000. Finally, CVA Family Office LLC purchased a new stake in shares of Etsy during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The shares were 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 owns 23,140 shares of the company's stock, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Etsy news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares of the company's stock, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares of the company's stock, valued at $183,868.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,968 shares of company stock worth $4,836,827. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

ETSY has been the topic of several recent analyst reports. UBS Group cut their price target on shares of Etsy from $75.00 to $72.00 and set a "neutral" rating on the stock in a report on Thursday, February 22nd. BTIG Research lowered their price objective on shares of Etsy from $90.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Wells Fargo & Company reduced their target price on Etsy from $62.00 to $60.00 and set an "underweight" rating on the stock in a report on Thursday, April 4th. Truist Financial lowered their target price on Etsy from $87.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, February 22nd. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $55.00 price target (down from $65.00) on shares of Etsy in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Etsy has a consensus rating of "Hold" and an average target price of $84.46.

Etsy Stock Down 2.2 %

Shares of Etsy stock traded down $1.48 during trading hours on Wednesday, reaching $66.87. 2,640,895 shares of the stock traded hands, compared to its average volume of 3,704,816. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 4.62 and a beta of 2.01. The company has a 50 day moving average price of $69.30 and a 200 day moving average price of $71.53. Etsy, Inc. has a one year low of $58.20 and a one year high of $102.81.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS 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 company had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Sell-side analysts anticipate that Etsy, Inc. will post 2.58 earnings per share for the current year.

About Etsy

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.