Vontobel Holding Ltd. Sells 11,532 Shares of Etsy, Inc. $ETSY

Vontobel Holding Ltd. lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 28.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,991 shares of the specialty retailer’s stock after selling 11,532 shares during the quarter. Vontobel Holding Ltd.’s holdings in Etsy were worth $1,925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETSY. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Etsy in the first quarter valued at $922,000. Chicago Partners Investment Group LLC boosted its stake in shares of Etsy by 90.4% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 9,383 shares of the specialty retailer’s stock worth $471,000 after purchasing an additional 4,455 shares during the period. Friedenthal Financial bought a new position in Etsy during the 2nd quarter valued at about $903,000. Monaco Asset Management SAM bought a new position in Etsy during the 2nd quarter valued at about $1,254,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Etsy in the 2nd quarter worth about $8,671,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Down 0.3%

ETSY opened at $55.79 on Friday. The stock’s fifty day moving average is $58.46 and its two-hundred day moving average is $59.72. The company has a market capitalization of $5.51 billion, a P/E ratio of 44.99, a PEG ratio of 10.65 and a beta of 1.76. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share 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 business had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $655.83 million. During the same period in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Etsy announced that its board has authorized a share repurchase program on Thursday, December 18th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 14.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC boosted their target price on Etsy from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Wedbush decreased their price target on Etsy from $72.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. BNP Paribas began coverage on Etsy in a research report on Monday, November 24th. They issued a “neutral” rating on the stock. B. Riley reiterated a “buy” rating on shares of Etsy in a research note on Thursday, October 30th. Finally, Evercore ISI downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $64.52.

Insider Buying and Selling

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $54.67, for a total transaction of $1,184,480.22. Following the transaction, the chief executive officer directly owned 78,946 shares in the company, valued at $4,315,977.82. This represents a 21.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Edward Colburn III sold 3,200 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $57.80, for a total transaction of $184,960.00. Following the transaction, the insider directly owned 4,387 shares in the company, valued at $253,568.60. This trade represents a 42.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 241,105 shares of company stock valued at $16,594,854 over the last quarter. 2.80% of the stock is owned by company insiders.

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.