Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 87.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,483 shares of the specialty retailer's stock after selling 45,744 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Etsy were worth $360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ETSY. Cetera Advisors LLC acquired a new position in Etsy during the 1st quarter worth $207,000. Czech National Bank raised its stake in Etsy by 5.8% in the second quarter. Czech National Bank now owns 22,283 shares of the specialty retailer's stock valued at $1,314,000 after buying an additional 1,217 shares in the last quarter. Diversified Trust Co lifted its holdings in Etsy by 11.5% during the 2nd quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer's stock worth $381,000 after buying an additional 668 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Etsy by 15.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,833 shares of the specialty retailer's stock worth $462,000 after buying an additional 1,062 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of Etsy by 74.3% during the 2nd quarter. V Square Quantitative Management LLC now owns 5,006 shares of the specialty retailer's stock worth $295,000 after acquiring an additional 2,134 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America cut their target price on Etsy from $61.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, October 24th. Moffett Nathanson lifted their price target on Etsy from $60.00 to $61.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Truist Financial cut their price target on Etsy from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Raymond James cut their price target on Etsy from $72.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Finally, Piper Sandler reissued a "neutral" rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Etsy currently has a consensus rating of "Hold" and a consensus target price of $64.71.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $52.50, for a total value of $39,375.00. Following the completion of the transaction, the insider now directly owns 24,371 shares of the company's stock, valued at $1,279,477.50. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Insiders sold a total of 5,069 shares of company stock valued at $261,888 over the last three months. 2.60% of the stock is currently owned by insiders.

Etsy Price Performance

ETSY traded up $0.09 during trading on Monday, reaching $57.30. 2,618,766 shares of the stock were exchanged, compared to its average volume of 3,291,738. The business's 50 day moving average price is $52.22 and its two-hundred day moving average price is $56.06. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 6.76 and a beta of 1.99. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $89.58.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). The firm had revenue of $662.40 million for the quarter, compared to analysts' expectations of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, analysts anticipate that Etsy, Inc. will post 2.25 EPS for the current year.

Etsy declared that its board has approved a stock buyback plan on Wednesday, October 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

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.