Etsy, Inc. $ETSY Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 33.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,303 shares of the specialty retailer’s stock after selling 112,429 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.22% of Etsy worth $14,626,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Holocene Advisors LP grew its stake in shares of Etsy by 697.4% during the 2nd quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer’s stock worth $268,045,000 after purchasing an additional 4,673,615 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Etsy by 62.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer’s stock worth $185,197,000 after buying an additional 1,416,772 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Etsy by 37.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,552,308 shares of the specialty retailer’s stock worth $103,058,000 after buying an additional 424,461 shares in the last quarter. Norges Bank acquired a new stake in Etsy during the second quarter valued at $65,207,000. Finally, Artisan Partners Limited Partnership purchased a new position in Etsy in the second quarter valued at $50,033,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Etsy

In other news, CAO Merilee Buckley sold 5,636 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $58.45, for a total value of $329,424.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard Edward Colburn III sold 3,200 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $57.80, for a total value of $184,960.00. Following the transaction, the insider directly owned 4,387 shares of the company’s stock, valued at $253,568.60. The trade was a 42.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 154,056 shares of company stock valued at $8,931,918 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays increased their target price on shares of Etsy from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. BNP Paribas initiated coverage on Etsy in a research report on Monday, November 24th. They set a “neutral” rating on the stock. Raymond James Financial restated an “outperform” rating and issued a $78.00 price objective (down from $80.00) on shares of Etsy in a research report on Thursday, October 30th. BTIG Research reduced their target price on Etsy from $81.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, December 30th. Finally, B. Riley restated a “buy” rating on shares of Etsy in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.88.

Etsy Trading Down 0.8%

ETSY opened at $61.28 on Friday. The stock’s 50-day moving average price is $56.10 and its 200 day moving average price is $59.79. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.51. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 10.65 and a beta of 1.74.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $678.03 million for the quarter, compared to analyst estimates of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

Etsy declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 18th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy up to 14.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Etsy Profile

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.