Rice Hall James & Associates LLC Sells 15,462 Shares of Etsy, Inc. $ETSY

Rice Hall James & Associates LLC lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 163,450 shares of the specialty retailer’s stock after selling 15,462 shares during the period. Rice Hall James & Associates LLC owned approximately 0.16% of Etsy worth $10,851,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Holocene Advisors LP boosted its stake in shares of Etsy by 697.4% during the 2nd quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer’s stock worth $268,045,000 after purchasing an additional 4,673,615 shares during the period. AQR Capital Management LLC raised its position in Etsy by 423.7% in the 1st quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer’s stock worth $218,890,000 after purchasing an additional 3,768,787 shares during the period. Acadian Asset Management LLC lifted its stake in Etsy by 112.8% in the first quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer’s stock worth $132,273,000 after purchasing an additional 1,486,142 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Etsy by 62.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer’s stock valued at $185,197,000 after buying an additional 1,416,772 shares during the period. Finally, Norges Bank bought a new position in shares of Etsy during the second quarter valued at approximately $65,207,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Down 0.3%

Shares of ETSY stock opened at $55.79 on Friday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 10.65 and a beta of 1.76. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $76.51. The company’s 50 day moving average is $58.46 and its 200 day moving average is $59.72.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. Analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Etsy declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 18th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 14.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Etsy news, CAO Merilee Buckley sold 11,827 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $61.47, for a total value of $727,005.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $54.67, for a total value of $1,184,480.22. Following the transaction, the chief executive officer directly owned 78,946 shares in the company, valued at approximately $4,315,977.82. The trade was a 21.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 241,105 shares of company stock worth $16,594,854. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ETSY shares. Truist Financial boosted their price objective on Etsy from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. BTIG Research reiterated a “buy” rating and set a $81.00 target price on shares of Etsy in a research report on Wednesday, November 12th. Wedbush cut their price target on shares of Etsy from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Guggenheim reissued a “buy” rating and issued a $70.00 price objective on shares of Etsy in a research report on Thursday, September 18th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $64.00 price target on shares of Etsy in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.52.

Etsy Company Profile

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.