Rice Hall James & Associates LLC Buys 165,508 Shares of Etsy, Inc. (NASDAQ:ETSY)

Rice Hall James & Associates LLC lifted its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 647.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,062 shares of the specialty retailer's stock after acquiring an additional 165,508 shares during the period. Rice Hall James & Associates LLC owned approximately 0.16% of Etsy worth $10,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Etsy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer's stock valued at $929,695,000 after acquiring an additional 91,900 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer's stock valued at $339,964,000 after acquiring an additional 721,454 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Etsy by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer's stock valued at $248,623,000 after purchasing an additional 734,200 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Etsy by 52.3% during the second quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer's stock valued at $123,875,000 after acquiring an additional 721,453 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer's stock valued at $105,861,000 after purchasing an additional 221,275 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now directly owns 18,083 shares of the company's stock, valued at approximately $1,001,798.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now directly owns 18,083 shares of the company's stock, valued at approximately $1,001,798.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,619 shares of company stock valued at $240,825. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued a "neutral" rating and set a $50.00 price objective on shares of Etsy in a research report on Monday, October 7th. Oppenheimer lowered Etsy from an "outperform" rating to a "market perform" rating in a report on Thursday, August 1st. Raymond James reduced their target price on shares of Etsy from $72.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group cut shares of Etsy from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $70.00 to $45.00 in a research note on Tuesday, October 15th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price target on shares of Etsy in a research report on Thursday. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $64.87.

Etsy Stock Up 2.9 %

ETSY traded up $1.48 during trading on Friday, reaching $52.92. 3,826,014 shares of the stock traded hands, compared to its average volume of 3,762,679. The stock's 50-day moving average is $52.70 and its 200 day moving average is $58.30. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $89.58. The stock has a market capitalization of $6.07 billion, a PE ratio of 26.81, a P/E/G ratio of 5.39 and a beta of 1.97.

Etsy (NASDAQ:ETSY - Get Free Report) last posted 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). The firm had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. Etsy had a negative return on equity of 47.52% and a net margin of 9.17%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. As a group, equities research analysts anticipate that Etsy, Inc. will post 2.37 EPS for the current year.

Etsy announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.