Rice Hall James & Associates LLC Decreases Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Rice Hall James & Associates LLC lowered its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 180,339 shares of the specialty retailer's stock after selling 10,723 shares during the quarter. Rice Hall James & Associates LLC owned 0.16% of Etsy worth $9,538,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Meritage Portfolio Management boosted its holdings in Etsy by 152.4% during the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer's stock valued at $14,698,000 after acquiring an additional 159,820 shares during the period. Everence Capital Management Inc. purchased a new position in Etsy during the 3rd quarter valued at $834,000. Pacer Advisors Inc. boosted its holdings in Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer's stock valued at $331,067,000 after acquiring an additional 3,861,668 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after buying an additional 411,165 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Etsy by 258.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer's stock worth $6,576,000 after buying an additional 85,396 shares during the period. Hedge funds and other institutional investors own 99.53% of the company's stock.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company's stock.

Etsy Stock Performance

NASDAQ:ETSY traded down $0.14 during mid-day trading on Friday, hitting $51.26. 5,002,250 shares of the company's stock traded hands, compared to its average volume of 3,373,368. The company has a fifty day moving average of $54.43 and a 200 day moving average of $53.78. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $74.82. The company has a market capitalization of $5.77 billion, a P/E 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. On average, research analysts expect that Etsy, Inc. will post 2.6 earnings per share for the current fiscal year.

Etsy announced that its Board of Directors has approved a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ETSY shares. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 target price on shares of Etsy in a report on Thursday. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and upped their target price for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Canaccord Genuity Group lowered their target price on Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley lowered their target price on Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a report on Thursday. Finally, Truist Financial lowered their target price on Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $60.08.

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.