Robeco Institutional Asset Management B.V. lowered its stake in Etsy, Inc. (NASDAQ:ETSY – Free Report) by 42.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,834 shares of the specialty retailer’s stock after selling 187,259 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.22% of Etsy worth $14,262,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of ETSY. Blue Trust Inc. lifted its position in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares during the last quarter. Larson Financial Group LLC grew its holdings in Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Etsy in the 2nd quarter worth approximately $42,000. Finally, Headlands Technologies LLC acquired a new position in shares of Etsy during the first quarter worth approximately $59,000. Institutional investors and hedge funds own 99.53% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on ETSY shares. Stifel Nicolaus reduced their price target on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 28th. Bank of America decreased their target price on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Piper Sandler restated a “neutral” rating and set a $56.00 price target on shares of Etsy in a research note on Friday, August 23rd. Wolfe Research initiated coverage on Etsy in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group cut Etsy from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $70.00 to $45.00 in a research report on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Etsy has an average rating of “Hold” and a consensus target price of $64.87.
Etsy Trading Up 0.7 %
Shares of NASDAQ:ETSY opened at $53.08 on Thursday. The stock has a market capitalization of $6.09 billion, a P/E ratio of 27.08, a P/E/G ratio of 6.19 and a beta of 1.99. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $89.58. The business has a 50-day moving average price of $52.45 and a two-hundred day moving average price of $57.78.
Etsy (NASDAQ:ETSY – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The business had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, equities analysts predict that Etsy, Inc. will post 2.27 EPS for the current year.
Etsy announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling
In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders sold a total of 5,369 shares of company stock valued at $280,200 over the last three months. Company insiders own 2.60% 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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