20,422 Shares in Etsy, Inc. (NASDAQ:ETSY) Bought by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 20,422 shares of the specialty retailer’s stock, valued at approximately $1,134,000.

A number of other institutional investors have also recently added to or reduced their stakes in ETSY. Allspring Global Investments Holdings LLC grew its stake in shares of Etsy by 68.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,968 shares of the specialty retailer’s stock worth $754,000 after purchasing an additional 4,474 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Etsy by 26.2% in the first quarter. Janney Montgomery Scott LLC now owns 11,078 shares of the specialty retailer’s stock worth $761,000 after purchasing an additional 2,299 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Etsy by 10.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,555 shares of the specialty retailer’s stock worth $313,000 after purchasing an additional 424 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Etsy by 79.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,059 shares of the specialty retailer’s stock valued at $485,000 after buying an additional 3,122 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Etsy by 30.3% in the first quarter. Rehmann Capital Advisory Group now owns 5,005 shares of the specialty retailer’s stock valued at $344,000 after buying an additional 1,165 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $52.73 on Wednesday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 6.19 and a beta of 1.99. The business’s 50-day simple moving average is $52.54 and its 200-day simple moving average is $57.91. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 EPS 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 analyst estimates of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 EPS. As a group, equities research analysts forecast that Etsy, Inc. will post 2.27 earnings per share for the current year.

Etsy announced that its Board of Directors has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 24,371 shares of the company’s stock, valued at $1,279,477.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 24,371 shares of the company’s stock, valued at $1,279,477.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was 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. Insiders have sold 5,369 shares of company stock valued at $280,200 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ETSY. Evercore ISI upgraded Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus cut their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 28th. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Etsy in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Etsy in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.87.

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.