Etsy, Inc. (NASDAQ:ETSY) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 134.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,226 shares of the specialty retailer's stock after acquiring an additional 27,694 shares during the period. Harbor Capital Advisors Inc.'s holdings in Etsy were worth $2,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Etsy by 112.3% in the third 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. Larson Financial Group LLC lifted its position in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer's stock worth $39,000 after buying an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Etsy during the second quarter valued at approximately $42,000. Finally, Headlands Technologies LLC purchased a new position in Etsy during the 1st quarter valued at approximately $59,000. Institutional investors own 99.53% of the company's stock.

Etsy Price Performance

Shares of ETSY stock traded up $0.46 during mid-day trading on Tuesday, hitting $52.73. The stock had a trading volume of 3,321,791 shares, compared to its average volume of 3,765,768. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $89.58. The firm's 50-day moving average is $52.54 and its two-hundred day moving average is $57.91. The firm has a market capitalization of $6.05 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 6.19 and a beta of 1.99.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data 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 business had revenue of $662.40 million during the quarter, compared to analysts' expectations of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Analysts expect that Etsy, Inc. will post 2.27 EPS for the current year.

Etsy declared that its board has initiated a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ETSY. Truist Financial lowered their target price on Etsy from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Piper Sandler reiterated a "neutral" rating and set a $56.00 price objective on shares of Etsy in a research report on Friday, August 23rd. UBS Group dropped their price objective 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 15th. Stifel Nicolaus decreased their target price on shares of Etsy from $64.00 to $56.00 and set a "hold" rating on the stock in a research report on Monday, October 28th. Finally, The Goldman Sachs Group lowered Etsy from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $70.00 to $45.00 in a research report on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $64.87.

Insider Activity

In other news, insider Toni Thompson Nadal sold 1,443 shares of the business's stock in a transaction on 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 transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Toni Thompson Nadal sold 1,443 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was 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 in the company, valued at $30,257.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.15, for a total value of $39,862.50. Following the completion of the sale, the insider now owns 25,121 shares of the company's stock, valued at approximately $1,335,181.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,369 shares of company stock worth $280,200. 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.