Handelsbanken Fonder AB Has $15.80 Million Stake in Etsy, Inc. (NASDAQ:ETSY)

Handelsbanken Fonder AB lowered its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 32.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,970 shares of the specialty retailer’s stock after selling 94,754 shares during the quarter. Handelsbanken Fonder AB owned 0.16% of Etsy worth $15,802,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ETSY. AE Wealth Management LLC grew its holdings in shares of Etsy by 7.9% during the third quarter. AE Wealth Management LLC now owns 13,680 shares of the specialty retailer’s stock worth $883,000 after buying an additional 998 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of Etsy by 10.6% during the third quarter. DnB Asset Management AS now owns 24,339 shares of the specialty retailer’s stock worth $1,572,000 after buying an additional 2,333 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Etsy by 107.4% during the third quarter. Exchange Traded Concepts LLC now owns 17,739 shares of the specialty retailer’s stock worth $1,146,000 after buying an additional 9,186 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Etsy during the third quarter worth about $134,000. Finally, Czech National Bank grew its holdings in shares of Etsy by 47.2% during the third quarter. Czech National Bank now owns 21,500 shares of the specialty retailer’s stock worth $1,388,000 after buying an additional 6,897 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ETSY. Wells Fargo & Company decreased their price target on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Morgan Stanley restated 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. Barclays lifted their target price on Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Piper Sandler lifted their target price on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.88.

Etsy Stock Up 2.9 %

Shares of ETSY stock opened at $68.35 on Wednesday. The firm has a market capitalization of $8.10 billion, a P/E ratio of 30.51, a P/E/G ratio of 4.62 and a beta of 2.01. Etsy, Inc. has a twelve month low of $58.20 and a twelve month high of $103.25. The stock’s fifty day simple moving average is $69.30 and its 200 day simple moving average is $71.53.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. As a group, equities research analysts expect that Etsy, Inc. will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was 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 approximately $183,868.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the transaction, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,968 shares of company stock worth $4,836,827. 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.