Landscape Capital Management L.L.C. Raises Stock Holdings in Etsy Inc $ETSY

Landscape Capital Management L.L.C. boosted its stake in Etsy Inc (NYSE:ETSY) by 127.3% during the third quarter, HoldingsChannel reports. The firm owned 64,526 shares of the company’s stock after buying an additional 36,137 shares during the period. Landscape Capital Management L.L.C.’s holdings in Etsy were worth $4,284,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Holocene Advisors LP grew its stake in Etsy by 697.4% in the 2nd quarter. Holocene Advisors LP now owns 5,343,797 shares of the company’s stock worth $268,045,000 after buying an additional 4,673,615 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Etsy by 62.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the company’s stock worth $185,197,000 after buying an additional 1,416,772 shares during the last quarter. Norges Bank purchased a new stake in shares of Etsy during the 2nd quarter valued at $65,207,000. Artisan Partners Limited Partnership purchased a new position in Etsy in the second quarter worth $50,033,000. Finally, Allianz Asset Management GmbH raised its position in Etsy by 1,648.1% during the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock valued at $46,916,000 after purchasing an additional 666,253 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Performance

Shares of NYSE ETSY traded up $1.53 during midday trading on Friday, reaching $53.52. The company had a trading volume of 270,561 shares, compared to its average volume of 3,853,983. The company has a market cap of $5.15 billion, a PE ratio of 41.04, a PEG ratio of 3.35 and a beta of 1.74. Etsy Inc has a one year low of $40.05 and a one year high of $76.51. The company’s fifty day simple moving average is $55.49.

Etsy (NYSE:ETSY) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $881.64 million for the quarter. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.

Etsy declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 18th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to purchase up to 14.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. B. Riley Financial dropped their price target on Etsy from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Wall Street Zen raised Etsy from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Canaccord Genuity Group dropped their target price on Etsy from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, February 20th. UBS Group cut their target price on Etsy from $74.00 to $53.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Finally, Jefferies Financial Group decreased their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.80.

Insider Activity

In other news, Director Charles Andrew Ballard sold 1,790 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total transaction of $99,774.60. Following the completion of the sale, the director owned 4,006 shares of the company’s stock, valued at approximately $223,294.44. This represents a 30.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.26, for a total transaction of $1,153,931.16. Following the completion of the transaction, the insider directly owned 90,661 shares in the company, valued at approximately $4,828,604.86. The trade was a 19.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 116,058 shares of company stock valued at $6,576,362. 2.80% of the stock is currently owned by company insiders.

Etsy Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.