Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,185 shares of the specialty retailer’s stock after selling 536 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Etsy were worth $2,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of ETSY. Vanguard Group Inc. grew its position in Etsy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after acquiring an additional 91,900 shares in the last quarter. Capital International Investors grew its holdings in shares of Etsy by 0.6% in the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock valued at $662,605,000 after purchasing an additional 45,305 shares in the last quarter. Van ECK Associates Corp increased its stake in Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after buying an additional 721,454 shares during the period. Renaissance Technologies LLC increased its position in shares of Etsy by 21.1% during the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after acquiring an additional 734,200 shares during the period. Finally, Bares Capital Management Inc. raised its stake in shares of Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock valued at $330,711,000 after acquiring an additional 36,623 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company lowered their target price on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, June 25th. Wolfe Research began coverage on Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Loop Capital dropped their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.61.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 2,000 shares of company stock worth $116,395. Company insiders own 2.60% of the company’s stock.

Etsy Trading Up 1.7 %

NASDAQ:ETSY opened at $54.83 on Tuesday. Etsy, Inc. has a 12-month low of $50.63 and a 12-month high of $89.58. The stock’s 50 day simple moving average is $56.54 and its 200-day simple moving average is $61.33. The firm has a market cap of $6.41 billion, a P/E ratio of 25.04, a PEG ratio of 5.10 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same quarter last year, the business posted $0.83 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Research analysts forecast that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Etsy Profile

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.