Moloney Securities Asset Management LLC Takes $1.13 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Moloney Securities Asset Management LLC bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 20,422 shares of the specialty retailer's stock, valued at approximately $1,134,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. grew its position in shares of Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer's stock worth $26,000 after buying an additional 231 shares during the period. UMB Bank n.a. boosted its stake in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer's stock valued at $31,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC increased its holdings in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer's stock worth $39,000 after purchasing an additional 536 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Etsy in the 2nd quarter valued at approximately $42,000. Finally, Headlands Technologies LLC acquired a new position in shares of Etsy during the 1st quarter worth $59,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ETSY shares. Truist Financial lowered their price objective on Etsy from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Wedbush decreased their price target on shares of Etsy from $65.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Piper Sandler reaffirmed a "neutral" rating and issued a $56.00 price target on shares of Etsy in a research report on Friday, August 23rd. Wells Fargo & Company lowered their price objective on shares of Etsy from $47.00 to $44.00 and set an "underweight" rating on the stock in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Etsy from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $64.87.

Insider Buying and Selling at Etsy

In other news, insider Toni Thompson Nadal sold 1,443 shares of the firm's 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 owns 592 shares of the company's stock, valued at $30,257.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction 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 transaction, the insider now directly owns 592 shares of the company's stock, valued at $30,257.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $52.50, for a total value of $39,375.00. Following the completion of the transaction, the insider now owns 24,371 shares in the company, valued at $1,279,477.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,369 shares of company stock worth $280,200. Insiders own 2.60% of the company's stock.

Etsy Price Performance

ETSY traded up $0.35 during trading on Wednesday, hitting $53.08. The stock had a trading volume of 4,346,870 shares, compared to its average volume of 3,768,000. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 6.19 and a beta of 1.99. Etsy, Inc. has a one year low of $47.10 and a one year high of $89.58. The company has a 50 day moving average price of $52.49 and a 200-day moving average price of $57.81.

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share 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 the consensus estimate of $652.47 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Etsy, Inc. will post 2.27 EPS for the current fiscal year.

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

Etsy Company 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.