Ieq Capital LLC Has $4.16 Million Holdings in Etsy, Inc. (NASDAQ:ETSY)

Ieq Capital LLC grew its stake in Etsy, Inc. (NASDAQ:ETSY) by 305.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,612 shares of the specialty retailer’s stock after buying an additional 59,211 shares during the period. Ieq Capital LLC owned approximately 0.07% of Etsy worth $4,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in shares of Etsy by 183.9% in the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after buying an additional 3,861,668 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after purchasing an additional 522,111 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock worth $92,452,000 after purchasing an additional 188,386 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Etsy in the third quarter worth about $55,530,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Etsy Price Performance

Shares of ETSY opened at $51.26 on Friday. The company has a market capitalization of $5.77 billion, a P/E ratio of 21.63, a PEG ratio of 2.55 and a beta of 2.00. Etsy, Inc. has a one year low of $47.10 and a one year high of $74.82. The business’s 50 day simple moving average is $54.43 and its 200-day simple moving average is $53.78.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.6 EPS for the current fiscal year.

Etsy declared that its board has initiated a stock repurchase program on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Loop Capital dropped their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday. Wells Fargo & Company lifted their price objective on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday. Citigroup lowered their price target on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus lowered their price target on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Etsy currently has a consensus rating of “Hold” and a consensus target price of $60.08.

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.