Fiera Capital Corp Has $37.47 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Fiera Capital Corp reduced its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 674,830 shares of the specialty retailer's stock after selling 23,587 shares during the period. Fiera Capital Corp owned approximately 0.59% of Etsy worth $37,473,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ETSY. Capital Performance Advisors LLP acquired a new stake in Etsy in the third quarter valued at $43,000. Olympiad Research LP purchased a new position in shares of Etsy during the third quarter worth about $364,000. Principal Financial Group Inc. grew its holdings in shares of Etsy by 313.1% during the third 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 last quarter. Amalgamated Bank grew its holdings in shares of Etsy by 9.9% during the third quarter. Amalgamated Bank now owns 37,176 shares of the specialty retailer's stock worth $2,064,000 after buying an additional 3,351 shares during the last quarter. Finally, United Advisor Group LLC purchased a new position in shares of Etsy during the third quarter worth about $220,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Down 0.2 %

NASDAQ ETSY traded down $0.10 on Friday, hitting $53.31. The stock had a trading volume of 3,613,021 shares, compared to its average volume of 3,816,161. The company's 50-day moving average is $52.37 and its two-hundred day moving average is $57.66. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 6.26 and a beta of 1.99. Etsy, Inc. has a one year low of $47.10 and a one year high of $89.58.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy declared that its board has authorized a share buyback program on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $30,257.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction dated Thursday, October 3rd. The shares were 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. Insiders sold 5,369 shares of company stock worth $280,200 over the last three months. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ETSY shares. Wedbush lowered their price target on Etsy from $65.00 to $58.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Raymond James reduced their price objective on shares of Etsy from $72.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Cantor Fitzgerald restated a "neutral" rating and issued a $50.00 price objective on shares of Etsy in a research report on Monday, October 7th. Oppenheimer downgraded shares of Etsy from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 1st. Finally, Loop Capital reduced their price target on shares of Etsy from $50.00 to $45.00 and set a "sell" rating for the company in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $64.87.

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.