Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,703 shares of the specialty retailer's stock after acquiring an additional 11,594 shares during the quarter. Advisors Asset Management Inc. owned 0.16% of Etsy worth $9,868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer's stock valued at $26,000 after buying an additional 231 shares during the period. UMB Bank n.a. raised its position in shares of Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer's stock valued at $31,000 after purchasing an additional 292 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Etsy in the second quarter worth about $42,000. Capital Performance Advisors LLP purchased a new stake in Etsy during the 3rd quarter valued at approximately $43,000. Finally, Prospera Private Wealth LLC purchased a new stake in Etsy in the 3rd quarter worth $59,000. Institutional investors own 99.53% of the company's stock.

Analysts Set New Price Targets

ETSY has been the topic of a number of research reports. Evercore ISI raised Etsy to a "strong-buy" rating in a research note on Thursday, August 1st. The Goldman Sachs Group lowered shares of Etsy from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $70.00 to $45.00 in a research report on Tuesday, October 15th. Barclays dropped their price objective on shares of Etsy from $60.00 to $55.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Raymond James lowered their price target on shares of Etsy from $72.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Finally, Wedbush decreased their price objective on Etsy from $65.00 to $58.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $64.87.

Etsy Stock Performance

NASDAQ:ETSY traded up $1.12 during midday trading on Thursday, reaching $51.98. 1,880,690 shares of the stock traded hands, compared to its average volume of 3,746,356. The business has a 50-day moving average of $52.03 and a two-hundred day moving average of $56.75. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $89.58. The stock has a market capitalization of $5.85 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 5.95 and a beta of 1.99.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. During the same period in the prior year, the company earned $0.64 earnings per share. The company's quarterly revenue was up 4.1% on a year-over-year basis. Research analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $52.50, for a total transaction of $39,375.00. Following the completion of the sale, the insider now owns 24,371 shares of the company's stock, valued at $1,279,477.50. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The shares were 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. In the last quarter, insiders have sold 5,369 shares of company stock valued at $280,200. 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.