Etsy, Inc. (NASDAQ:ETSY) Stake Raised by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 146.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,876 shares of the specialty retailer's stock after buying an additional 13,577 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Etsy were worth $1,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ETSY. Blue Trust Inc. raised its position in Etsy by 106.5% in the 3rd 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. raised its holdings in Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer's stock valued at $31,000 after acquiring an additional 292 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Etsy in the second quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new position in Etsy during the 3rd quarter worth approximately $43,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Etsy in the 3rd quarter valued at approximately $59,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the business'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 transaction of $85,660.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.15, for a total transaction of $39,862.50. Following the transaction, the insider now directly owns 25,121 shares of the company's stock, valued at approximately $1,335,181.15. This trade represents a 2.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,069 shares of company stock valued at $261,888 over the last three months. 2.60% of the stock is owned by company insiders.

Etsy Stock Up 0.2 %

Shares of ETSY stock traded up $0.09 on Monday, reaching $57.30. 2,618,766 shares of the stock were exchanged, compared to its average volume of 3,291,738. The stock has a market cap of $6.45 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 6.76 and a beta of 1.99. The firm has a 50 day moving average of $52.22 and a two-hundred day moving average of $56.06. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $89.58.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. 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 earnings per share. The company's quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts predict that Etsy, Inc. will post 2.25 EPS for the current fiscal year.

Etsy announced that its board has authorized a share buyback 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 reacquire up to 17.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

ETSY has been the subject of a number of analyst reports. The Goldman Sachs Group downgraded shares of Etsy from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $70.00 to $45.00 in a research note on Tuesday, October 15th. Truist Financial lowered their target price on shares of Etsy from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Loop Capital decreased their target price on shares of Etsy from $50.00 to $45.00 and set a "sell" rating for the company in a research note on Monday, August 12th. UBS Group dropped their price target on Etsy from $65.00 to $58.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 15th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $50.00 price objective on shares of Etsy in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Etsy has a consensus rating of "Hold" and an average target price of $64.71.

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.