Empowered Funds LLC purchased a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,222 shares of the specialty retailer's stock, valued at approximately $329,000.
Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in 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 acquiring an additional 231 shares during the last quarter. Lecap Asset Management Ltd. increased its position in Etsy by 75.2% in the third quarter. Lecap Asset Management Ltd. now owns 17,859 shares of the specialty retailer's stock worth $992,000 after buying an additional 7,664 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Etsy in the third quarter valued at $1,233,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of Etsy during the 3rd quarter worth $214,000. Finally, Louisiana State Employees Retirement System increased its holdings in Etsy by 740.9% in the 3rd quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer's stock worth $3,082,000 after acquiring an additional 48,900 shares during the last quarter. Institutional investors own 99.53% of the company's stock.
Etsy Stock Down 0.3 %
Shares of NASDAQ ETSY traded down $0.14 during trading on Friday, reaching $51.26. The company had a trading volume of 5,002,250 shares, compared to its average volume of 3,373,368. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $74.82. The business's 50-day moving average is $54.58 and its 200 day moving average is $53.81. The stock has a market cap of $5.77 billion, a PE ratio of 21.63, a P/E/G ratio of 2.55 and a beta of 2.00.
Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, analysts anticipate that Etsy, Inc. will post 2.6 earnings per share for the current year.
Etsy declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.
Insider Activity at Etsy
In related news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction that occurred on 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 directly owns 22,198 shares of the company's stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Loop Capital cut their price target on Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a report on Thursday. Morgan Stanley decreased their price objective on Etsy from $45.00 to $44.00 and set an "underweight" rating on the stock in a research note on Thursday. Bank of America cut their target price on Etsy from $61.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $60.00 price target on shares of Etsy in a research report on Thursday. Four 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 given a strong buy rating to the company. According to MarketBeat.com, Etsy currently has an average rating of "Hold" and a consensus target price of $60.08.
View Our Latest Stock Report on ETSY
About Etsy
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Free Report)
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.
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