Swiss National Bank Has $31.16 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Swiss National Bank decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 384,500 shares of the specialty retailer’s stock after selling 12,300 shares during the period. Swiss National Bank owned about 0.32% of Etsy worth $31,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ETSY. CVA Family Office LLC bought a new stake in shares of Etsy during the 4th quarter valued at approximately $27,000. Operose Advisors LLC bought a new stake in shares of Etsy during the third quarter worth $28,000. Tompkins Financial Corp acquired a new position in shares of Etsy during the fourth quarter worth $41,000. Harvest Fund Management Co. Ltd bought a new position in shares of Etsy in the 4th quarter valued at $49,000. Finally, KB Financial Partners LLC boosted its holdings in shares of Etsy by 99.5% during the 3rd quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 417 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ETSY shares. B. Riley lowered their target price on Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group dropped their price objective on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. UBS Group reduced their target price 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. Guggenheim dropped their price target on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Loop Capital cut shares of Etsy from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $70.00 to $50.00 in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $79.96.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the sale, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,968 shares of company stock worth $4,836,827. Company insiders own 2.60% of the company’s stock.

Etsy Stock Down 0.3 %

ETSY opened at $62.57 on Thursday. The company’s 50-day moving average price is $67.22 and its two-hundred day moving average price is $71.46. Etsy, Inc. has a twelve month low of $56.60 and a twelve month high of $102.81. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 4.73 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same period in the prior year, the business earned $0.53 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.