Etsy, Inc. (NASDAQ:ETSY) Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in Etsy, Inc. (NASDAQ:ETSY) by 132.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,490,399 shares of the specialty retailer’s stock after purchasing an additional 850,520 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Etsy were worth $78,827,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after buying an additional 3,861,668 shares in the last quarter. Marshall Wace LLP lifted its stake in Etsy by 304.2% in the second quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after acquiring an additional 1,055,296 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Etsy in the third quarter worth approximately $55,530,000. Holocene Advisors LP acquired a new position in shares of Etsy during the 3rd quarter worth $49,061,000. Finally, AQR Capital Management LLC increased its position in Etsy by 76.2% during the second quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock worth $69,685,000 after buying an additional 517,480 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Stifel Nicolaus cut their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Moffett Nathanson lifted their price target on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Raymond James decreased their price objective on shares of Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Etsy in a research note on Monday, October 7th. Finally, Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $45.00 to $55.00 in a research report on Monday. Four equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Etsy has an average rating of “Hold” and a consensus target price of $62.54.

Insider Activity

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $52.50, for a total value of $39,375.00. Following the sale, the insider now owns 24,371 shares in the company, valued at approximately $1,279,477.50. The trade was a 2.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Etsy Price Performance

ETSY opened at $53.27 on Thursday. The company has a market capitalization of $5.99 billion, a P/E ratio of 27.18, a P/E/G ratio of 6.96 and a beta of 1.99. The firm’s fifty day moving average price is $54.82 and its two-hundred day moving average price is $54.96. Etsy, Inc. has a fifty-two week low of $47.10 and a fifty-two week high of $80.30.

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

Etsy declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership 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.