DORCHESTER WEALTH MANAGEMENT Co Has $273,000 Stock Position in Etsy, Inc. (NASDAQ:ETSY)

DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 34.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,160 shares of the specialty retailer’s stock after purchasing an additional 1,310 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Etsy were worth $273,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ETSY. Pacer Advisors Inc. grew its stake in shares of Etsy by 183.9% during 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 grew its stake in shares of Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after buying an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC grew its stake in shares of Etsy by 12.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock worth $92,452,000 after buying an additional 188,386 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Etsy by 132.9% during 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 buying an additional 850,520 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Etsy during the third quarter worth $55,530,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were 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 in the company, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ETSY shares. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Loop Capital decreased their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday. Morgan Stanley reduced their price objective on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Moffett Nathanson boosted their price objective on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.78.

Etsy Trading Down 0.3 %

Shares of ETSY opened at $51.26 on Friday. The stock has a market capitalization of $5.49 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00. The firm’s fifty day simple moving average is $54.43 and its two-hundred day simple moving average is $53.78. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $74.82.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. As a group, research analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Etsy declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Etsy Company 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.