Mn Services Vermogensbeheer B.V. Cuts Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Mn Services Vermogensbeheer B.V. reduced its stake in Etsy, Inc. (NASDAQ:ETSY) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 57,100 shares of the specialty retailer’s stock after selling 2,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Etsy were worth $4,628,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ETSY. First Capital Advisors Group LLC. purchased a new stake in shares of Etsy during the 2nd quarter valued at $25,000. CVA Family Office LLC purchased a new position in Etsy in the fourth quarter worth $27,000. Operose Advisors LLC bought a new position in Etsy in the third quarter valued at $28,000. ICA Group Wealth Management LLC purchased a new stake in Etsy during the fourth quarter valued at about $28,000. Finally, Quarry LP lifted its stake in Etsy by 121.7% during the first quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 146 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Etsy Trading Up 2.4 %

NASDAQ:ETSY opened at $68.36 on Wednesday. The company has a 50-day moving average price of $70.16 and a 200-day moving average price of $71.39. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 4.68 and a beta of 2.01. Etsy, Inc. has a 12 month low of $58.20 and a 12 month high of $104.93.

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

Analysts Set New Price Targets

ETSY has been the topic of several recent research reports. 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. The Goldman Sachs Group downgraded 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 research note on Wednesday, January 10th. 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. Morgan Stanley reduced their target price 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. Finally, Evercore ISI lowered their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $87.84.

Insider Transactions at Etsy

In related news, 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 sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of Etsy 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 transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The disclosure for this sale can be found here. In 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.

About Etsy

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.