Janus Henderson Group PLC Buys 34,991 Shares of Etsy, Inc. (NASDAQ:ETSY)

Janus Henderson Group PLC boosted its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 482,262 shares of the specialty retailer's stock after acquiring an additional 34,991 shares during the quarter. Janus Henderson Group PLC owned approximately 0.43% of Etsy worth $26,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETSY. Blue Trust Inc. raised its position in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 231 shares during the last quarter. UMB Bank n.a. raised its holdings in Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 292 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Etsy during the 2nd quarter worth about $42,000. Capital Performance Advisors LLP acquired a new position in Etsy during the 3rd quarter valued at about $43,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Etsy in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Trading Up 0.2 %

Shares of NASDAQ ETSY traded up $0.09 during midday trading on Friday, reaching $57.30. The company's stock had a trading volume of 2,618,388 shares, compared to its average volume of 3,321,874. The stock has a 50 day simple moving average of $52.22 and a 200-day simple moving average of $56.17. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 6.97 and a beta of 1.99. Etsy, Inc. has a fifty-two week low of $47.10 and a fifty-two week high of $89.58.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly 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 net margin of 9.17% and a negative return on equity of 46.79%. The business had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The firm's quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Etsy, Inc. will post 2.25 EPS for the current year.

Etsy declared that its Board of Directors has approved a stock buyback program on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ETSY. Barclays dropped their price target on shares of Etsy from $60.00 to $55.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price target on shares of Etsy in a research note on Thursday, October 31st. The Goldman Sachs Group lowered Etsy from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $70.00 to $45.00 in a research report on Tuesday, October 15th. Loop Capital dropped their price objective on Etsy from $50.00 to $45.00 and set a "sell" rating for the company in a report on Monday, August 12th. Finally, Bank of America reduced their target price on Etsy from $61.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, October 24th. Four equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $64.71.

Insider Buying and Selling

In other news, CAO Merilee Buckley sold 1,676 shares of the company's 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $52.50, for a total value of $39,375.00. Following the transaction, the insider now owns 24,371 shares of the company's stock, valued at $1,279,477.50. The trade was a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,069 shares of company stock worth $261,888. Corporate 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.