Olympiad Research LP Purchases New Position in Etsy, Inc. (NASDAQ:ETSY)

Olympiad Research LP purchased a new stake in Etsy, Inc. (NASDAQ:ETSY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,551 shares of the specialty retailer’s stock, valued at approximately $364,000.

A number of other large investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Etsy by 7.0% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,659 shares of the specialty retailer’s stock worth $251,000 after buying an additional 240 shares during the period. Meridian Management Co. boosted its position in Etsy by 0.4% during the 2nd quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock valued at $3,740,000 after acquiring an additional 241 shares in the last quarter. GAMMA Investing LLC boosted its position in Etsy by 25.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock valued at $73,000 after acquiring an additional 253 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,369 shares of company stock worth $280,200. Insiders own 2.60% of the company’s stock.

Etsy Price Performance

Shares of ETSY stock opened at $53.41 on Friday. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 6.17 and a beta of 1.99. The business has a fifty day moving average of $52.40 and a 200 day moving average of $57.75. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $89.58.

Etsy (NASDAQ:ETSY) 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 company had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, equities research analysts expect that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy announced that its board has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

ETSY has been the topic of several recent research reports. Truist Financial dropped their target price on Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wolfe Research initiated coverage on Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Wedbush dropped their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Barclays dropped their target price on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, UBS Group dropped their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.87.

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.