Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc raised its stake in Etsy, Inc. (NASDAQ:ETSY) by 153.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 825 shares of the specialty retailer’s stock after purchasing an additional 499 shares during the quarter. Versant Capital Management Inc’s holdings in Etsy were worth $44,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in Etsy by 183.9% during the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after buying an additional 3,861,668 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Etsy by 304.2% during the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after acquiring an additional 1,055,296 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Etsy during the 3rd quarter valued at $55,530,000. Holocene Advisors LP purchased a new stake in Etsy during the 3rd quarter worth $49,061,000. Finally, Renaissance Technologies LLC increased its holdings in Etsy by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after purchasing an additional 734,200 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Stock Up 5.0 %

NASDAQ ETSY opened at $56.61 on Tuesday. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 6.96 and a beta of 1.99. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $80.30. The business’s fifty day moving average is $54.51 and its 200 day moving average is $55.21.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The company had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. During the same quarter last year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current fiscal year.

Etsy announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ETSY shares. Wells Fargo & Company decreased their target price on Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. UBS Group lowered their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Etsy in a report on Monday, October 7th. Finally, Citigroup reduced their target price on Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.17.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $52.50, for a total transaction of $39,375.00. Following the completion of the transaction, the insider now owns 24,371 shares in the company, valued at approximately $1,279,477.50. This represents a 2.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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.