Impax Asset Management Group plc Grows Holdings in Etsy, Inc. (NASDAQ:ETSY)

Impax Asset Management Group plc raised its position in Etsy, Inc. (NASDAQ:ETSY) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,261 shares of the specialty retailer’s stock after buying an additional 11,261 shares during the period. Impax Asset Management Group plc owned approximately 0.10% of Etsy worth $5,885,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ETSY. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in Etsy by 34.0% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 5,160 shares of the specialty retailer’s stock valued at $273,000 after purchasing an additional 1,310 shares during the last quarter. Denver PWM LLC boosted its stake in shares of Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 289 shares during the last quarter. Boyd Watterson Asset Management LLC OH bought a new stake in shares of Etsy in the fourth quarter worth $1,096,000. PYA Waltman Capital LLC raised its holdings in Etsy by 5.7% in the fourth quarter. PYA Waltman Capital LLC now owns 24,368 shares of the specialty retailer’s stock valued at $1,289,000 after acquiring an additional 1,320 shares in the last quarter. Finally, Prakash Investment Advisors LLC bought a new position in Etsy during the 4th quarter valued at $561,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ETSY. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and upped their target price for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Etsy in a report on Thursday, February 20th. Truist Financial lowered their price target on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Canaccord Genuity Group reduced their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, UBS Group lowered their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Four equities 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $58.78.

Etsy Trading Up 3.9 %

Etsy stock opened at $53.24 on Tuesday. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.57 and a beta of 2.00. The company’s 50-day moving average price is $54.26 and its two-hundred day moving average price is $53.78. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $74.46.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. During the same quarter last year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Etsy declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors 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.