Etsy, Inc. (NASDAQ:ETSY) Shares Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP grew its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 558.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 216,700 shares of the specialty retailer's stock after buying an additional 183,800 shares during the quarter. Two Sigma Advisers LP owned 0.19% of Etsy worth $12,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Blue Trust Inc. lifted its holdings in shares of 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 buying an additional 231 shares during the period. Meridian Management Co. raised its holdings in Etsy by 0.4% in the 2nd quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer's stock worth $3,740,000 after purchasing an additional 241 shares during the period. UMB Bank n.a. raised its holdings in Etsy by 112.3% in 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 period. Nisa Investment Advisors LLC raised its holdings in Etsy by 3.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,915 shares of the specialty retailer's stock worth $526,000 after purchasing an additional 316 shares during the period. Finally, American Century Companies Inc. raised its holdings in Etsy by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 12,519 shares of the specialty retailer's stock worth $738,000 after purchasing an additional 367 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of analyst reports. Loop Capital reduced their price target on Etsy from $50.00 to $45.00 and set a "sell" rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their price target on Etsy from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Friday, November 1st. UBS Group reduced their price target on Etsy from $65.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Needham & Company LLC reiterated a "buy" rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $50.00 price objective on shares of Etsy in a research note on Monday, October 7th. Four investment 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 company. Based on data from MarketBeat.com, Etsy presently has a consensus rating of "Hold" and an average target price of $64.71.

Etsy Trading Up 0.0 %

Etsy stock traded up $0.01 during mid-day trading on Tuesday, hitting $58.76. The company's stock had a trading volume of 2,556,705 shares, compared to its average volume of 3,733,247. The firm has a market capitalization of $6.61 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 6.76 and a beta of 1.99. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $89.58. The stock's fifty day moving average is $52.29 and its two-hundred day moving average is $56.03.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data 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). 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 company's revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities analysts expect that Etsy, Inc. will post 2.25 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the company'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 $85,660.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the company's stock in a transaction 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 transaction, the insider now owns 24,371 shares in the company, valued at $1,279,477.50. This trade represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,069 shares of company stock worth $261,888 over the last ninety days. Corporate insiders own 2.60% of the company's stock.

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.