Quantinno Capital Management LP Boosts Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Quantinno Capital Management LP raised its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 354.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,425 shares of the specialty retailer's stock after purchasing an additional 39,340 shares during the period. Quantinno Capital Management LP's holdings in Etsy were worth $2,800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ETSY. Pacer Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 3,861,668 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Etsy by 304.2% in the second quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer's stock worth $82,703,000 after purchasing an additional 1,055,296 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Etsy in the third quarter worth $55,530,000. Holocene Advisors LP purchased a new position in Etsy during the third quarter valued at approximately $49,061,000. Finally, Renaissance Technologies LLC boosted its position in shares of Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer's stock valued at $248,623,000 after acquiring an additional 734,200 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Trading Up 0.0 %

Shares of Etsy stock traded up $0.02 during trading hours on Tuesday, reaching $58.77. The stock had a trading volume of 1,325,807 shares, compared to its average volume of 3,727,908. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $89.58. The firm has a market capitalization of $6.61 billion, a PE ratio of 29.97, a PEG ratio of 6.76 and a beta of 1.99. The stock's 50 day moving average is $52.29 and its 200 day moving average is $56.03.

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 negative return on equity of 46.79% and a net margin of 9.17%. The business 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 earned $0.64 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy announced that its board has approved a share buyback 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 purchase up to 17.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

ETSY has been the subject of several recent research reports. Truist Financial lowered their price target on shares of Etsy from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Loop Capital cut their target price on Etsy from $50.00 to $45.00 and set a "sell" rating on the stock in a research note on Monday, August 12th. Bank of America decreased their price target on Etsy from $61.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, October 24th. Raymond James dropped their price target on Etsy from $72.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group decreased their price target on shares of Etsy from $65.00 to $58.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $64.71.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Friday, November 1st. The shares were sold at an average price of $52.50, for a total value of $39,375.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the company's stock in a transaction that occurred on Thursday, October 3rd. The stock was 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. Over the last ninety days, insiders have sold 5,069 shares of company stock worth $261,888. Company insiders own 2.60% of the company's stock.

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.