Hsbc Holdings PLC Sells 361,646 Shares of Etsy Inc $ETSY

Hsbc Holdings PLC lessened its holdings in Etsy Inc (NYSE:ETSY) by 67.2% in the 4th quarter, Holdings Channel reports. The firm owned 176,746 shares of the company’s stock after selling 361,646 shares during the quarter. Hsbc Holdings PLC’s holdings in Etsy were worth $9,785,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in Etsy by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after buying an additional 1,177,301 shares during the last quarter. Lone Pine Capital LLC acquired a new stake in shares of Etsy in the third quarter worth about $257,614,000. Van ECK Associates Corp boosted its stake in shares of Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after acquiring an additional 39,067 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Etsy by 3.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock worth $89,338,000 after acquiring an additional 59,123 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Etsy by 16.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,473,154 shares of the company’s stock valued at $81,671,000 after acquiring an additional 205,644 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETSY. Jefferies Financial Group downgraded Etsy from a “hold” rating to a “hold” rating in a research note on Thursday, May 21st. Wells Fargo & Company raised their target price on shares of Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Cantor Fitzgerald boosted their price objective on shares of Etsy from $51.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Sanford C. Bernstein raised their price target on shares of Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, April 30th. Finally, BTIG Research increased their price target on Etsy from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Etsy presently has a consensus rating of “Hold” and a consensus target price of $71.80.

Insiders Place Their Bets

In other news, insider Richard Edward Colburn III sold 4,776 shares of Etsy stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $65.09, for a total transaction of $310,869.84. Following the transaction, the insider owned 6,503 shares in the company, valued at $423,280.27. The trade was a 42.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick R. Wilson sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.79, for a total transaction of $1,375,800.00. Following the completion of the transaction, the director owned 461,329 shares of the company’s stock, valued at $31,734,821.91. This trade represents a 4.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 651,377 shares of company stock worth $44,720,839. 2.50% of the stock is owned by company insiders.

Etsy Price Performance

Etsy stock opened at $78.03 on Friday. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $79.90. The company’s 50 day simple moving average is $66.20 and its 200 day simple moving average is $58.61. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 3.10 and a beta of 1.88.

Etsy Profile

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.