Federated Hermes Inc. Reduces Holdings in Etsy, Inc. (NASDAQ:ETSY)

Federated Hermes Inc. lowered its position in Etsy, Inc. (NASDAQ:ETSY) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,288 shares of the specialty retailer’s stock after selling 2,564 shares during the quarter. Federated Hermes Inc. owned 0.09% of Etsy worth $5,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its stake in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Hurley Capital LLC purchased a new stake in Etsy during the 4th quarter worth approximately $32,000. Summit Securities Group LLC acquired a new position in shares of Etsy in the 4th quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new position in shares of Etsy during the 4th quarter valued at approximately $38,000. Finally, Versant Capital Management Inc grew its position in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after buying an additional 499 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Price Performance

Shares of Etsy stock opened at $43.60 on Friday. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72. The business’s fifty day moving average price is $48.78 and its two-hundred day moving average price is $51.89. The company has a market capitalization of $4.67 billion, a P/E ratio of 18.40, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. On average, research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,952 shares of company stock valued at $2,554,620. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ETSY. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Cantor Fitzgerald reduced their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $45.00 to $55.00 in a report on Monday, January 13th. Piper Sandler reduced their target price on Etsy from $52.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday. Finally, JMP Securities reiterated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.71.

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.