Blue Trust Inc. Purchases 426 Shares of Etsy, Inc. (NASDAQ:ETSY)

Blue Trust Inc. increased its position in Etsy, Inc. (NASDAQ:ETSY) by 95.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 874 shares of the specialty retailer’s stock after acquiring an additional 426 shares during the quarter. Blue Trust Inc.’s holdings in Etsy were worth $46,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETSY. Pacer Advisors Inc. increased its position in Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after buying an additional 3,861,668 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Etsy during the third quarter worth $55,530,000. Holocene Advisors LP bought a new position in Etsy during the third quarter worth $49,061,000. Assenagon Asset Management S.A. raised its stake in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after purchasing an additional 850,520 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after purchasing an additional 522,111 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ETSY shares. Truist Financial dropped their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Moffett Nathanson lifted their price objective on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Citigroup cut their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Morgan Stanley decreased their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and dropped their price objective for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.78.

Etsy Trading Down 2.7 %

Shares of ETSY stock opened at $51.70 on Thursday. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $73.48. The firm’s 50 day moving average is $54.01 and its 200-day moving average is $53.75. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. On average, equities research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Etsy declared that its board has authorized a stock repurchase program on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 17.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated 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 owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Etsy Company 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.