Etsy, Inc. (NASDAQ:ETSY) Holdings Trimmed by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its stake in Etsy, Inc. (NASDAQ:ETSY) by 34.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 647 shares of the specialty retailer’s stock after selling 335 shares during the quarter. Farther Finance Advisors LLC’s holdings in Etsy were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Everence Capital Management Inc. bought a new stake in shares of Etsy during the 3rd quarter worth $834,000. Diversified Trust Co boosted its holdings in Etsy by 11.5% in the 2nd quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock valued at $381,000 after purchasing an additional 668 shares during the period. Advisors Asset Management Inc. grew its position in Etsy by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock worth $10,093,000 after buying an additional 16,458 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Etsy by 740.9% during the third quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock valued at $3,082,000 after purchasing an additional 48,900 shares during the period. Finally, Hancock Whitney Corp bought a new stake in Etsy in the 1st quarter valued at $1,561,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Down 4.5 %

Shares of ETSY stock opened at $51.04 on Friday. The firm’s 50 day moving average is $52.20 and its 200 day moving average is $57.26. The stock has a market capitalization of $5.74 billion, a P/E ratio of 26.04, a P/E/G ratio of 6.37 and a beta of 1.99. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $89.58.

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

Etsy declared that its board has authorized a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ETSY has been the subject of a number of analyst reports. Loop Capital cut their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Wells Fargo & Company reduced their price target on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Bank of America dropped their target price on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, Raymond James dropped their price objective on Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.87.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $52.50, for a total value of $39,375.00. Following the completion of the sale, the insider now directly owns 24,371 shares of the company’s stock, valued at $1,279,477.50. This represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,369 shares of company stock worth $280,200. 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.