Etsy Inc $ETSY Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its stake in shares of Etsy Inc (NYSE:ETSY) by 95.7% in the second quarter, HoldingsChannel reports. The fund owned 162,238 shares of the company’s stock after selling 3,574,390 shares during the quarter. Van ECK Associates Corp’s holdings in Etsy were worth $12,221,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ETSY. EFG International AG acquired a new stake in shares of Etsy in the fourth quarter worth approximately $33,000. Global Retirement Partners LLC acquired a new position in Etsy during the second quarter worth approximately $34,000. Blue Trust Inc. increased its position in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the last quarter. Danske Bank A S purchased a new position in Etsy during the third quarter worth approximately $66,000. Finally, Federation des caisses Desjardins du Quebec raised its stake in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after purchasing an additional 225 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Stock Down 2.5%

Shares of NYSE:ETSY opened at $81.46 on Tuesday. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 45.51, a price-to-earnings-growth ratio of 4.04 and a beta of 1.84. The company has a 50 day moving average of $81.01 and a two-hundred day moving average of $66.50. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97.

Etsy (NYSE:ETSY) last posted its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The firm had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, equities analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current year.

Insiders Place Their Bets

In other Etsy news, insider Josh Silverman sold 97,389 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $79.00, for a total value of $7,693,731.00. Following the completion of the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at $10,324,826. This represents a 42.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total value of $1,487,800.00. Following the sale, the director owned 441,329 shares of the company’s stock, valued at $32,830,464.31. This represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 434,737 shares of company stock worth $33,619,606 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of Etsy from $74.00 to $86.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Royal Bank Of Canada lowered Etsy to a “sector perform” rating in a research report on Thursday, August 20th. Morgan Stanley upgraded Etsy from an “underweight” rating to an “outperform” rating in a report on Thursday, August 20th. Susquehanna cut Etsy to a “neutral” rating in a report on Thursday, May 21st. Finally, Needham & Company LLC boosted their price target on Etsy from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.68.

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.