Etsy, Inc. $ETSY Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 82.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,758 shares of the specialty retailer’s stock after selling 143,110 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Etsy were worth $1,976,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETSY. Heritage Wealth Advisors grew its position in shares of Etsy by 476.5% during the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 405 shares during the last quarter. Signaturefd LLC boosted its stake in Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Etsy during the 2nd quarter worth $35,000. Salomon & Ludwin LLC acquired a new position in Etsy in the third quarter valued at $55,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Etsy by 12,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 756 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 11,827 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $61.47, for a total transaction of $727,005.69. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Bradley Minor sold 3,095 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $57.81, for a total transaction of $178,921.95. Following the completion of the transaction, the chief marketing officer directly owned 7,373 shares of the company’s stock, valued at approximately $426,233.13. This trade represents a 29.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 154,056 shares of company stock valued at $8,931,918. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Bank of America raised their price target on Etsy from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Barclays increased their price objective on Etsy from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Moffett Nathanson reissued a “neutral” rating on shares of Etsy in a report on Wednesday, October 29th. Piper Sandler restated a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. Finally, Zacks Research upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.72.

Etsy Price Performance

ETSY opened at $57.10 on Thursday. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The stock has a market capitalization of $5.64 billion, a P/E ratio of 46.05, a P/E/G ratio of 10.65 and a beta of 1.74. The business has a 50 day simple moving average of $56.64 and a 200-day simple moving average of $60.55.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $655.83 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. Etsy’s revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy declared that its board has authorized a stock repurchase plan on Thursday, December 18th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 14.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.