Applied Finance Capital Management LLC Invests $1.29 Million in Etsy, Inc. (NASDAQ:ETSY)

Applied Finance Capital Management LLC purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,209 shares of the specialty retailer's stock, valued at approximately $1,289,000.

Several other large investors also recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 231 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer's stock valued at $31,000 after buying an additional 292 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Etsy during the 2nd quarter valued at about $42,000. Capital Performance Advisors LLP acquired a new position in Etsy during the 3rd quarter worth approximately $43,000. Finally, Headlands Technologies LLC purchased a new position in Etsy in the 1st quarter worth approximately $59,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Trading Down 0.2 %

ETSY traded down $0.10 during trading on Friday, reaching $53.31. 3,613,021 shares of the company were exchanged, compared to its average volume of 3,816,161. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58. The firm has a 50 day moving average of $52.37 and a 200 day moving average of $57.58. The stock has a market cap of $6.00 billion, a P/E ratio of 27.20, a PEG ratio of 6.26 and a beta of 1.99.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly 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 firm had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. During the same period last year, the firm posted $0.64 EPS. The business's revenue was up 4.1% compared to the same quarter last year. As a group, analysts forecast that Etsy, Inc. will post 2.25 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $50.00 target price on shares of Etsy in a research report on Monday, October 7th. Wolfe Research started coverage on Etsy in a research note on Tuesday, July 16th. They set a "peer perform" rating for the company. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price target on shares of Etsy in a research note on Thursday, October 31st. Piper Sandler restated a "neutral" rating and set a $56.00 price objective on shares of Etsy in a report on Friday, August 23rd. Finally, Evercore ISI upgraded Etsy to a "strong-buy" rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $64.87.

Insider Buying and Selling

In other news, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Merilee Buckley sold 1,676 shares of the company'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 24,371 shares of the company's stock, valued at $1,279,477.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,369 shares of company stock valued at $280,200 in the last three months. 2.60% of the stock is currently owned by corporate 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.