Rice Hall James & Associates LLC Has $10.61 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Rice Hall James & Associates LLC grew its stake in Etsy, Inc. (NASDAQ:ETSY) by 647.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,062 shares of the specialty retailer’s stock after acquiring an additional 165,508 shares during the quarter. Rice Hall James & Associates LLC owned 0.16% of Etsy worth $10,610,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Etsy by 0.7% in the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock worth $929,695,000 after purchasing an additional 91,900 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after purchasing an additional 721,454 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after purchasing an additional 734,200 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Etsy by 52.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after purchasing an additional 721,453 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Etsy by 16.8% during the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after buying an additional 221,275 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research note on Thursday. UBS Group reduced their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Evercore ISI raised shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Bank of America dropped their price target on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus target price of $65.65.

Etsy Stock Up 7.2 %

Etsy stock opened at $51.44 on Friday. The company has a market capitalization of $5.90 billion, a PE ratio of 26.24, a PEG ratio of 5.39 and a beta of 1.97. The firm’s fifty day moving average is $52.70 and its 200 day moving average is $58.30. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a negative return on equity of 47.52% and a net margin of 9.17%. The company 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 company earned $0.64 EPS. Etsy’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Etsy, Inc. will post 2.37 EPS for the current fiscal year.

Etsy announced that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the transaction, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,619 shares of company stock worth $240,825 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

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.