Swiss National Bank Lowers Stake in Etsy, Inc. (NASDAQ:ETSY)

Swiss National Bank lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,700 shares of the specialty retailer’s stock after selling 3,000 shares during the period. Swiss National Bank owned 0.20% of Etsy worth $11,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Etsy during the fourth quarter worth $15,630,000. HighTower Advisors LLC acquired a new position in shares of Etsy during the fourth quarter worth $218,000. Wealthfront Advisers LLC acquired a new position in shares of Etsy during the fourth quarter worth $6,863,000. Miller Financial Services LLC acquired a new position in shares of Etsy during the fourth quarter worth $407,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of Etsy by 1.1% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 43,604 shares of the specialty retailer’s stock worth $2,306,000 after purchasing an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Etsy to a “hold” rating and reduced their price target for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th. Morgan Stanley cut their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. JPMorgan Chase & Co. started coverage on Etsy in a research report on Wednesday. They issued a “neutral” rating and a $50.00 target price on the stock. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and upped their target price for the company from $45.00 to $55.00 in a research report on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Etsy in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.42.

Etsy Stock Up 0.5 %

ETSY stock opened at $44.93 on Friday. The company’s 50-day simple moving average is $51.72 and its 200-day simple moving average is $52.96. Etsy, Inc. has a 52-week low of $43.43 and a 52-week high of $71.72. The firm has a market cap of $4.81 billion, a P/E ratio of 18.96, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. On average, analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly 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 the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is owned by corporate 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.