Etsy, Inc. $ETSY Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 37.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 139,852 shares of the specialty retailer’s stock after buying an additional 37,977 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Etsy were worth $9,285,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Heritage Wealth Advisors increased its holdings in shares of Etsy by 476.5% during the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 405 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Etsy during the 2nd quarter worth approximately $35,000. Salomon & Ludwin LLC purchased a new stake in Etsy during the 3rd quarter worth approximately $55,000. SJS Investment Consulting Inc. increased its stake in Etsy by 12,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 756 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new position in shares of Etsy in the second quarter worth $47,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 5,636 shares of Etsy stock in a transaction on Monday, January 5th. The shares were sold at an average price of $58.45, for a total value of $329,424.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Josh Silverman sold 21,666 shares of the stock in a transaction dated 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 sale, 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. In the last 90 days, insiders have sold 135,934 shares of company stock worth $7,663,369. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ETSY. Stifel Nicolaus dropped their price objective on shares of Etsy from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. B. Riley reiterated a “buy” rating on shares of Etsy in a research note on Thursday, October 30th. Piper Sandler restated a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. Cantor Fitzgerald decreased their target price on Etsy from $64.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Finally, BTIG Research decreased their price objective on shares of Etsy from $81.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, December 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.72.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $54.40 on Friday. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 43.87, a PEG ratio of 10.65 and a beta of 1.77. The firm’s 50 day simple moving average is $56.69 and its 200-day simple moving average is $60.37. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51.

Etsy declared that its Board of Directors has initiated a share repurchase 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 buy up to 14.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.