Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 132.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,490,399 shares of the specialty retailer's stock after purchasing an additional 850,520 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.32% of Etsy worth $78,827,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Etsy by 106.5% in the third 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 holdings in Etsy by 112.3% in the 3rd 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. American Century Companies Inc. grew its holdings in Etsy by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 12,519 shares of the specialty retailer's stock valued at $738,000 after buying an additional 367 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Etsy by 11.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer's stock worth $239,000 after acquiring an additional 448 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after acquiring an additional 499 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Moffett Nathanson raised their price objective on shares of Etsy from $60.00 to $61.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. 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. The Goldman Sachs Group cut Etsy from a "neutral" rating to a "sell" rating and cut their target price for the stock from $70.00 to $45.00 in a research note on Tuesday, October 15th. Bank of America lowered 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. Finally, Raymond James dropped their price objective on Etsy from $72.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $62.54.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction 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 sale, the insider now directly owns 24,371 shares in the company, valued at approximately $1,279,477.50. The trade was a 2.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

Etsy Stock Down 1.0 %

ETSY traded down $0.55 on Thursday, hitting $52.72. 2,240,529 shares of the company traded hands, compared to its average volume of 2,835,362. The stock has a market capitalization of $5.93 billion, a PE ratio of 26.90, a PEG ratio of 7.23 and a beta of 1.99. The company has a 50 day moving average of $54.83 and a 200-day moving average of $54.94. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $80.30.

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

Etsy announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership 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.