Handelsbanken Fonder AB Grows Position in Etsy, Inc. (NASDAQ:ETSY)

Handelsbanken Fonder AB lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 22.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 34,699 shares of the specialty retailer’s stock after buying an additional 6,260 shares during the period. Handelsbanken Fonder AB’s holdings in Etsy were worth $1,835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. lifted its position in Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 231 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Etsy during the 4th quarter worth $38,000. Capital Performance Advisors LLP bought a new stake in Etsy in the third quarter valued at about $43,000. Versant Capital Management Inc lifted its holdings in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after buying an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Etsy in the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial reduced their price objective on Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Citigroup reduced their price target on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Finally, UBS Group dropped their price target on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.78.

Etsy Stock Performance

Shares of ETSY opened at $53.13 on Wednesday. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $74.46. The business’s fifty day moving average price is $54.10 and its two-hundred day moving average price is $53.76.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. During the same period last year, the company earned $0.62 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy declared that its board has initiated a share buyback program on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.