D.A. Davidson & CO. Raises Holdings in Etsy, Inc. (NASDAQ:ETSY)

D.A. Davidson & CO. boosted its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 10.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,826 shares of the specialty retailer’s stock after acquiring an additional 918 shares during the quarter. D.A. Davidson & CO.’s holdings in Etsy were worth $520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Meritage Portfolio Management raised its position in Etsy by 152.4% during the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock valued at $14,698,000 after purchasing an additional 159,820 shares during the last quarter. Pacer Advisors Inc. raised its position in Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares during the last quarter. Principal Financial Group Inc. raised its position in Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after purchasing an additional 411,165 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Etsy by 258.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after purchasing an additional 85,396 shares during the last quarter. Finally, American Capital Advisory LLC raised its position in Etsy by 1,204,900.0% during the 4th quarter. American Capital Advisory LLC now owns 12,050 shares of the specialty retailer’s stock valued at $637,000 after purchasing an additional 12,049 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ETSY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. Cantor Fitzgerald lowered their price target on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and upped their price target for the company from $45.00 to $55.00 in a research report on Monday, January 13th. Citigroup decreased their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.78.

Etsy Trading Down 0.2 %

Shares of ETSY opened at $53.13 on Wednesday. The business’s fifty day simple moving average is $54.10 and its two-hundred day simple moving average is $53.76. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $74.46. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same period last year, the business posted $0.62 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

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

About Etsy

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.