Van ECK Associates Corp Raises Holdings in Etsy, Inc. (NASDAQ:ETSY)

Van ECK Associates Corp boosted its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 26.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,616,990 shares of the specialty retailer’s stock after buying an additional 967,777 shares during the period. Van ECK Associates Corp owned 3.86% of Etsy worth $374,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ETSY. Arizona State Retirement System boosted its holdings in Etsy by 0.5% during the fourth quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock worth $2,740,000 after buying an additional 157 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Etsy by 2.7% during the 4th quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock worth $516,000 after acquiring an additional 168 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Etsy by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 55,455 shares of the specialty retailer’s stock valued at $3,581,000 after acquiring an additional 210 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Etsy by 1.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,653 shares of the specialty retailer’s stock valued at $944,000 after purchasing an additional 216 shares in the last quarter. Finally, abrdn plc raised its holdings in Etsy by 0.8% in the 3rd quarter. abrdn plc now owns 33,053 shares of the specialty retailer’s stock worth $2,135,000 after purchasing an additional 249 shares during the period. Institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Evercore ISI decreased their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group cut Etsy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. Truist Financial reduced their price objective on Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $55.00 price target (down previously from $65.00) on shares of Etsy in a report on Thursday, April 18th. Three 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.04.

Etsy Trading Up 2.2 %

ETSY traded up $1.45 during midday trading on Monday, hitting $68.88. The company’s stock had a trading volume of 3,167,208 shares, compared to its average volume of 3,659,695. Etsy, Inc. has a 52-week low of $58.20 and a 52-week high of $102.81. The firm has a 50-day moving average price of $68.72 and a two-hundred day moving average price of $71.60. The firm has a market cap of $8.06 billion, a P/E ratio of 30.75, a PEG ratio of 4.69 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 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 business had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. On average, equities analysts expect that Etsy, Inc. will post 2.58 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the business’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 transaction, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the 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 sale, the insider now owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock worth $4,836,827 in the last three months. 2.60% of the stock is currently owned by company insiders.

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.