Etsy, Inc. (NASDAQ:ETSY) Position Boosted by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in Etsy, Inc. (NASDAQ:ETSY) by 26.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,616,990 shares of the specialty retailer’s stock after acquiring an additional 967,777 shares during the quarter. Van ECK Associates Corp’s holdings in Etsy were worth $374,207,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ETSY. Connor Clark & Lunn Investment Management Ltd. lifted its position in Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after buying an additional 57,785 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Etsy by 4.3% during the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after acquiring an additional 48,934 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Etsy during the fourth quarter valued at $2,273,000. International Assets Investment Management LLC purchased a new position in Etsy in the fourth quarter valued at about $38,490,000. Finally, CVA Family Office LLC acquired a new position in Etsy in the 4th quarter worth about $27,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group dropped their price target on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Piper Sandler boosted their price objective on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and cut their target price for the company from $84.00 to $80.00 in a research note on Wednesday, January 10th. Needham & Company LLC restated a “buy” rating and set a $95.00 price target on shares of Etsy in a research note on Friday, March 1st. Finally, Wedbush decreased their price objective on Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Etsy has an average rating of “Hold” and a consensus price target of $84.04.

Etsy Trading Up 2.2 %

Shares of ETSY traded up $1.45 during trading hours on Monday, hitting $68.88. 3,167,208 shares of the stock traded hands, compared to its average volume of 3,659,695. The business has a fifty day moving average of $68.72 and a 200-day moving average of $71.60. The firm has a market capitalization of $8.06 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 4.69 and a beta of 2.01. Etsy, Inc. has a 1-year low of $58.20 and a 1-year high of $102.81.

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