Federated Hermes Inc. Sells 213,724 Shares of Etsy, Inc. (NASDAQ:ETSY)

Federated Hermes Inc. cut its stake in Etsy, Inc. (NASDAQ:ETSY) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331,392 shares of the specialty retailer’s stock after selling 213,724 shares during the period. Federated Hermes Inc. owned approximately 0.28% of Etsy worth $26,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETSY. Vontobel Holding Ltd. raised its position in shares of Etsy by 4.4% during the fourth quarter. Vontobel Holding Ltd. now owns 47,203 shares of the specialty retailer’s stock valued at $3,826,000 after buying an additional 1,994 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Etsy in the 4th quarter valued at approximately $2,273,000. Louisiana State Employees Retirement System bought a new stake in shares of Etsy in the 4th quarter worth approximately $584,000. Simplicity Solutions LLC acquired a new stake in shares of Etsy during the 4th quarter worth approximately $214,000. Finally, Cerity Partners LLC increased its position in shares of Etsy by 2.3% during the fourth quarter. Cerity Partners LLC now owns 53,437 shares of the specialty retailer’s stock valued at $4,331,000 after purchasing an additional 1,178 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction 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 sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. 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 90 days. 2.60% of the stock is owned by company insiders.

Etsy Price Performance

ETSY opened at $66.76 on Friday. The stock has a market capitalization of $7.91 billion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 4.70 and a beta of 2.01. The company’s 50 day simple moving average is $69.67 and its 200-day simple moving average is $71.41. Etsy, Inc. has a one year low of $58.20 and a one year high of $104.93.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $842.32 million for the quarter, compared to the consensus estimate of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. As a group, analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ETSY shares. Piper Sandler lifted their price target on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. UBS Group lowered their target price on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Truist Financial dropped their price target on shares of Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. BTIG Research lowered their price objective on Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $84.00 to $80.00 in a research note on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and a consensus price target of $84.88.

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.