JBGlobal.com LLC Invests $404,000 in Etsy, Inc. (NASDAQ:ETSY)

JBGlobal.com LLC bought a new stake in Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 7,631 shares of the specialty retailer’s stock, valued at approximately $404,000. Etsy accounts for approximately 0.4% of JBGlobal.com LLC’s portfolio, making the stock its 21st largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETSY. American Century Companies Inc. raised its stake in shares of Etsy by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 12,519 shares of the specialty retailer’s stock valued at $738,000 after buying an additional 367 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Etsy by 53.6% in the second quarter. Dimensional Fund Advisors LP now owns 933,062 shares of the specialty retailer’s stock valued at $55,032,000 after acquiring an additional 325,709 shares during the period. Amalgamated Bank raised its position in Etsy by 33.8% in the second quarter. Amalgamated Bank now owns 33,825 shares of the specialty retailer’s stock worth $1,995,000 after purchasing an additional 8,550 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Etsy by 63.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 9,658 shares of the specialty retailer’s stock worth $570,000 after purchasing an additional 3,754 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Etsy by 18.8% during the second quarter. ProShare Advisors LLC now owns 88,825 shares of the specialty retailer’s stock valued at $5,239,000 after purchasing an additional 14,032 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ETSY. Bank of America dropped their target price on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus cut their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Etsy in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Raymond James reduced their price target on shares of Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and an average target price of $62.54.

Insider Buying and Selling at Etsy

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

Etsy Trading Down 2.0 %

Shares of NASDAQ:ETSY opened at $52.05 on Wednesday. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $80.30. The stock has a market capitalization of $5.86 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.95 and a beta of 1.99. The business has a 50-day moving average price of $54.75 and a two-hundred day moving average price of $54.77.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share 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 the consensus estimate of $652.47 million. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Etsy, Inc. will post 2.26 EPS for the current year.

Etsy declared that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Etsy Profile

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.