Federated Hermes Inc. Has $26.86 Million Holdings in Etsy, Inc. (NASDAQ:ETSY)

Federated Hermes Inc. decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 39.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 331,392 shares of the specialty retailer’s stock after selling 213,724 shares during the quarter. Federated Hermes Inc.’s holdings in Etsy were worth $26,859,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ETSY. Private Advisor Group LLC boosted its position in shares of Etsy by 16.1% during the 1st quarter. Private Advisor Group LLC now owns 5,222 shares of the specialty retailer’s stock worth $649,000 after acquiring an additional 725 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Etsy by 320.6% in the 1st quarter. Panagora Asset Management Inc. now owns 11,255 shares of the specialty retailer’s stock valued at $1,399,000 after purchasing an additional 8,579 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Etsy by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,964 shares of the specialty retailer’s stock valued at $2,108,000 after purchasing an additional 1,051 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Etsy by 0.7% during the 1st quarter. Yousif Capital Management LLC now owns 29,567 shares of the specialty retailer’s stock worth $3,675,000 after buying an additional 211 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of Etsy by 7.3% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 2,256 shares of the specialty retailer’s stock worth $280,000 after buying an additional 153 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ETSY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Truist Financial lowered their price objective on shares of Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Piper Sandler raised their target price on shares of Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Morgan Stanley reiterated an “underweight” rating and set a $55.00 price target (down from $65.00) on shares of Etsy in a report on Thursday. Finally, Barclays raised their price objective on Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.88.

Etsy Trading Down 0.9 %

ETSY stock opened at $66.76 on Friday. Etsy, Inc. has a 1-year low of $58.20 and a 1-year high of $104.93. The stock has a 50-day moving average price of $69.67 and a 200-day moving average price of $71.41. The firm has a market cap of $7.91 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 4.70 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current 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.