Schaper Benz & Wise Investment Counsel Inc. WI Trims Holdings in Etsy Inc $ETSY

Schaper Benz & Wise Investment Counsel Inc. WI cut its position in Etsy Inc (NYSE:ETSY) by 27.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,773 shares of the company’s stock after selling 11,682 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Etsy were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of ETSY. Elevation Point Wealth Partners LLC bought a new position in shares of Etsy in the 2nd quarter valued at about $35,000. Employees Retirement System of Texas bought a new position in shares of Etsy during the 2nd quarter valued at approximately $47,000. SJS Investment Consulting Inc. lifted its position in Etsy by 12,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 762 shares of the company’s stock worth $51,000 after buying an additional 756 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Etsy during the third quarter valued at $51,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of Etsy in the 3rd quarter worth about $55,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Down 5.7%

NYSE ETSY opened at $49.49 on Wednesday. Etsy Inc has a twelve month low of $40.05 and a twelve month high of $76.51. The firm has a market cap of $4.76 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 3.34 and a beta of 1.74. The business has a 50-day simple moving average of $54.28.

Etsy (NYSE:ETSY) last issued its earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $881.64 million during the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%.

Etsy announced that its Board of Directors has approved a stock repurchase program on Thursday, December 18th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 14.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 86,666 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $57.46, for a total transaction of $4,979,828.36. Following the completion of the transaction, the insider directly owned 90,661 shares of the company’s stock, valued at approximately $5,209,381.06. The trade was a 48.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Andrew Ballard sold 1,790 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total transaction of $99,774.60. Following the sale, the director owned 4,006 shares in the company, valued at $223,294.44. The trade was a 30.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 116,058 shares of company stock worth $6,576,362. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Etsy in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Etsy from $63.00 to $54.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Wall Street Zen lowered Etsy from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company dropped their target price on Etsy from $52.00 to $47.00 and set an “underweight” rating on the stock in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.80.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.