Rice Hall James & Associates LLC Reduces Holdings in Etsy, Inc. $ETSY

Rice Hall James & Associates LLC reduced its stake in Etsy, Inc. (NASDAQ:ETSY) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 163,450 shares of the specialty retailer’s stock after selling 15,462 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Etsy were worth $10,851,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the specialty retailer’s stock valued at $88,000 after acquiring an additional 158 shares during the period. Alamea Verwaltungs GmbH increased its holdings in shares of Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the specialty retailer’s stock valued at $370,000 after purchasing an additional 169 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Etsy by 0.6% in the second quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the specialty retailer’s stock worth $1,440,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 181 shares during the period. Finally, Signaturefd LLC boosted its position in Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ETSY. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $72.00 price objective on shares of Etsy in a research note on Thursday, October 23rd. BNP Paribas Exane began coverage on shares of Etsy in a research report on Monday, November 24th. They set a “neutral” rating for the company. Needham & Company LLC increased their price target on Etsy from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wells Fargo & Company decreased their price objective on Etsy from $58.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Finally, Citigroup reduced their price target on Etsy from $73.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $64.52.

Etsy Trading Down 0.3%

Shares of ETSY opened at $55.79 on Friday. The firm has a market cap of $5.51 billion, a P/E ratio of 44.99, a PEG ratio of 10.65 and a beta of 1.76. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The stock’s 50 day moving average is $58.46 and its two-hundred day moving average is $59.72.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $678.03 million for the quarter, compared to analyst estimates of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. Equities research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy announced that its board has initiated a share buyback program on Thursday, December 18th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the specialty retailer to reacquire up to 14.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Richard Edward Colburn III sold 3,200 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $57.80, for a total value of $184,960.00. Following the transaction, the insider directly owned 4,387 shares of the company’s stock, valued at approximately $253,568.60. This trade represents a 42.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $72.50, for a total value of $10,875,000.00. Following the sale, the chief executive officer owned 62,674 shares of the company’s stock, valued at approximately $4,543,865. This trade represents a 70.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 241,105 shares of company stock worth $16,594,854. Company insiders own 2.80% of the company’s stock.

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.