Harel Insurance Investments & Financial Services Ltd. Acquires New Stake in Etsy, Inc. (NASDAQ:ETSY)

Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,750 shares of the specialty retailer’s stock, valued at approximately $2,273,000.

Several other institutional investors have also recently made changes to their positions in the stock. Louisiana State Employees Retirement System purchased a new stake in shares of Etsy during the fourth quarter worth $584,000. Simplicity Solutions LLC purchased a new stake in shares of Etsy during the fourth quarter worth $214,000. Cerity Partners LLC lifted its position in shares of Etsy by 2.3% during the fourth quarter. Cerity Partners LLC now owns 53,437 shares of the specialty retailer’s stock worth $4,331,000 after acquiring an additional 1,178 shares in the last quarter. Lynch Asset Management Inc. lifted its position in shares of Etsy by 76.5% during the fourth quarter. Lynch Asset Management Inc. now owns 12,000 shares of the specialty retailer’s stock worth $973,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Impax Asset Management Group plc bought a new position in shares of Etsy in the fourth quarter worth $210,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 2.0 %

Etsy stock opened at $67.05 on Monday. Etsy, Inc. has a 1-year low of $58.20 and a 1-year high of $104.93. The firm has a 50-day moving average of $70.45 and a 200-day moving average of $71.34. The firm has a market cap of $7.94 billion, a P/E ratio of 29.93, a P/E/G ratio of 4.68 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The business had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Etsy news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,968 shares of company stock valued at $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

ETSY has been the topic of several research analyst reports. Barclays upped their price target on shares of Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. BTIG Research decreased their price target on shares of Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Morgan Stanley decreased their price target on shares of Etsy from $66.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group cut shares of Etsy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. Finally, Wells Fargo & Company decreased their price target on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $87.84.

Etsy Company 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.