Van ECK Associates Corp Boosts Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Van ECK Associates Corp grew its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 17.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,527,742 shares of the specialty retailer's stock after acquiring an additional 522,111 shares during the quarter. Van ECK Associates Corp owned 3.14% of Etsy worth $186,583,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ETSY. Pacer Advisors Inc. boosted its position in Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer's stock worth $331,067,000 after acquiring an additional 3,861,668 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Etsy during the 3rd quarter worth approximately $55,530,000. Holocene Advisors LP bought a new stake in shares of Etsy during the 3rd quarter worth approximately $49,061,000. Assenagon Asset Management S.A. raised its stake in shares of Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after purchasing an additional 850,520 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after purchasing an additional 411,165 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

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Etsy Trading Up 3.4 %

ETSY stock traded up $1.88 during mid-day trading on Friday, reaching $57.20. The company's stock had a trading volume of 3,997,177 shares, compared to its average volume of 2,577,241. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 2.71 and a beta of 2.00. The business's 50 day moving average price is $54.93 and its 200 day moving average price is $53.96. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $78.65.

Etsy announced that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ETSY. Needham & Company LLC restated a "buy" rating and issued a $60.00 price target on shares of Etsy in a research note on Thursday, October 31st. Morgan Stanley dropped their price target on Etsy from $47.00 to $45.00 and set an "underweight" rating on the stock in a research note on Monday, January 13th. Moffett Nathanson increased their price target on Etsy from $60.00 to $61.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. JMP Securities restated a "market perform" rating on shares of Etsy in a research note on Monday, December 16th. Finally, Raymond James dropped their price target on Etsy from $72.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $62.50.

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.