Nordea Investment Management AB Has $601,000 Stake in Etsy, Inc. (NASDAQ:ETSY)

Nordea Investment Management AB lowered its position in Etsy, Inc. (NASDAQ:ETSY) by 11.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,663 shares of the specialty retailer’s stock after selling 1,122 shares during the period. Nordea Investment Management AB’s holdings in Etsy were worth $601,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Etsy by 10.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,555 shares of the specialty retailer’s stock worth $313,000 after purchasing an additional 424 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Etsy by 26.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,078 shares of the specialty retailer’s stock valued at $761,000 after acquiring an additional 2,299 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Etsy by 9.2% in the 1st quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock valued at $346,528,000 after acquiring an additional 425,620 shares in the last quarter. Meritage Portfolio Management bought a new stake in shares of Etsy in the 1st quarter valued at $7,304,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of Etsy by 3.0% in the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 37,538 shares of the specialty retailer’s stock valued at $2,580,000 after acquiring an additional 1,097 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ETSY shares. Oppenheimer lowered their price objective on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Guggenheim lowered their price objective on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. B. Riley decreased their price target on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Canaccord Genuity Group decreased their price target on shares of Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, BTIG Research decreased their price target on shares of Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $79.88.

Insider Buying and Selling

In related news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $60.50 on Friday. The company’s 50-day moving average is $61.25 and its 200 day moving average is $67.56. The company has a market capitalization of $7.07 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 4.67 and a beta of 2.02. Etsy, Inc. has a fifty-two week low of $55.08 and a fifty-two week high of $102.81.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. As a group, research analysts predict that Etsy, Inc. will post 2.49 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.