Findlay Park Partners LLP Sells 21,300 Shares of Etsy, Inc. $ETSY

Findlay Park Partners LLP reduced its stake in Etsy, Inc. (NASDAQ:ETSY) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,171,500 shares of the specialty retailer’s stock after selling 21,300 shares during the period. Findlay Park Partners LLP owned approximately 1.19% of Etsy worth $77,776,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ETSY. Public Sector Pension Investment Board lifted its position in shares of Etsy by 21.2% in the third quarter. Public Sector Pension Investment Board now owns 430,824 shares of the specialty retailer’s stock worth $28,602,000 after buying an additional 75,295 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Etsy by 1,648.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 706,679 shares of the specialty retailer’s stock worth $46,916,000 after acquiring an additional 666,253 shares during the last quarter. Monaco Asset Management SAM purchased a new stake in shares of Etsy during the 2nd quarter worth approximately $1,254,000. Great Lakes Advisors LLC bought a new position in shares of Etsy during the 3rd quarter valued at approximately $1,889,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Etsy by 62.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer’s stock valued at $185,197,000 after acquiring an additional 1,416,772 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BNP Paribas Exane initiated coverage on shares of Etsy in a research report on Monday, November 24th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Wells Fargo & Company reduced their target price on shares of Etsy from $52.00 to $47.00 and set an “underweight” rating on the stock in a report on Friday, February 20th. Stifel Nicolaus lowered their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a report on Friday, February 20th. Finally, Canaccord Genuity Group lowered their price target on shares of Etsy from $80.00 to $72.00 and set a “buy” rating for the company in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.40.

Insider Buying and Selling

In other news, insider Josh Silverman sold 86,666 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $57.46, for a total value of $4,979,828.36. Following the sale, the insider directly owned 90,661 shares in the company, valued at approximately $5,209,381.06. This represents a 48.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 5,636 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $58.45, for a total value of $329,424.20. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 135,934 shares of company stock worth $7,661,068. Insiders own 2.80% of the company’s stock.

Etsy Trading Down 0.8%

Shares of NASDAQ:ETSY opened at $54.75 on Friday. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 10.65 and a beta of 1.77. The firm’s 50-day moving average is $55.66 and its 200 day moving average is $59.28.

Etsy declared that its board has approved a stock buyback program on Thursday, December 18th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 14.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.