Etsy, Inc. (NASDAQ:ETSY) Shares Acquired by Gagnon Securities LLC

Gagnon Securities LLC lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,148 shares of the specialty retailer’s stock after purchasing an additional 376 shares during the quarter. Gagnon Securities LLC’s holdings in Etsy were worth $272,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ETSY. Blue Trust Inc. grew its stake in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. UMB Bank n.a. lifted its holdings in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Etsy in the 3rd quarter valued at about $43,000. Versant Capital Management Inc lifted its holdings in Etsy by 153.1% in the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Etsy during the 3rd quarter worth about $59,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Price Performance

ETSY opened at $54.91 on Friday. The business has a fifty day simple moving average of $55.21 and a 200 day simple moving average of $54.59. The company has a market capitalization of $6.18 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.69 and a beta of 1.99. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $80.30.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. During the same period last year, the firm posted $0.64 EPS. Etsy’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current fiscal year.

Etsy announced that its Board of Directors has approved a stock repurchase 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 reacquire up to 17.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays lowered their price objective on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Morgan Stanley lowered their price objective on shares of Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Finally, Wedbush decreased their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.42.

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.