abrdn plc Has $4.75 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

abrdn plc grew its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 77.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,652 shares of the specialty retailer’s stock after purchasing an additional 25,599 shares during the quarter. abrdn plc’s holdings in Etsy were worth $4,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ETSY. CVA Family Office LLC bought a new position in shares of Etsy during the 4th quarter worth approximately $27,000. Operose Advisors LLC bought a new position in shares of Etsy during the 3rd quarter worth approximately $28,000. Tompkins Financial Corp bought a new position in shares of Etsy during the 4th quarter worth approximately $41,000. KB Financial Partners LLC boosted its stake 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 worth $54,000 after acquiring an additional 417 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Etsy by 33.1% during the 3rd quarter. Signaturefd LLC now owns 1,103 shares of the specialty retailer’s stock worth $71,000 after acquiring an additional 274 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Transactions at Etsy

In other news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm’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 transaction, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock worth $4,836,827 over the last ninety days. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. 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. Wells Fargo & Company reduced 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. Piper Sandler boosted their price target on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Etsy in a research report on Friday, March 1st. Finally, Truist Financial reduced their target price on Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. 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 company’s stock. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price of $84.46.

Etsy Trading Up 0.3 %

Etsy stock opened at $67.43 on Friday. The company has a market capitalization of $7.89 billion, a PE ratio of 30.10, a P/E/G ratio of 4.68 and a beta of 2.01. Etsy, Inc. has a 12 month low of $58.20 and a 12 month high of $102.81. The stock has a 50-day moving average price of $68.72 and a two-hundred day moving average price of $71.49.

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

About Etsy

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.