Etsy, Inc. (NASDAQ:ETSY) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in Etsy, Inc. (NASDAQ:ETSY) by 7.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 177,703 shares of the specialty retailer’s stock after acquiring an additional 11,594 shares during the quarter. Advisors Asset Management Inc.’s holdings in Etsy were worth $9,868,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ETSY. Vanguard Group Inc. boosted its position in shares of Etsy by 0.7% during the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock worth $929,695,000 after buying an additional 91,900 shares during the period. Van ECK Associates Corp boosted its holdings in 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 period. Renaissance Technologies LLC increased its stake in Etsy by 21.1% during the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after purchasing an additional 734,200 shares during the period. Pacer Advisors Inc. lifted its position 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 worth $123,875,000 after purchasing an additional 721,453 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Etsy by 304.2% in the second quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after purchasing an additional 1,055,296 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other Etsy news, insider Toni Thompson Nadal sold 1,443 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 value of $73,751.73. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. This represents a 70.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Tuesday, September 3rd. The stock was 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 $1,001,798.20. This trade represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. In 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.

Analyst Ratings Changes

ETSY has been the subject of several recent research reports. Truist Financial decreased their price target on shares of Etsy from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Raymond James cut their price target on Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus reduced their price target on Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Barclays cut their target price on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Loop Capital decreased their price target on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.87.

Etsy Stock Up 0.9 %

Shares of NASDAQ:ETSY opened at $50.86 on Thursday. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58. The company has a 50-day moving average price of $52.03 and a 200 day moving average price of $56.78. The company has a market cap of $5.72 billion, a P/E ratio of 25.95, a PEG ratio of 5.86 and a beta of 1.99.

Etsy (NASDAQ:ETSY) 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 business had revenue of $662.40 million during 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 firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. Analysts expect that Etsy, Inc. will post 2.25 EPS for the current year.

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

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.