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

Ieq Capital LLC boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 305.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,612 shares of the specialty retailer’s stock after buying an additional 59,211 shares during the quarter. Ieq Capital LLC’s holdings in Etsy were worth $4,158,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Etsy during the 4th quarter valued at $38,000. Capital Performance Advisors LLP bought a new stake in shares of Etsy during the 3rd quarter valued at $43,000. Versant Capital Management Inc raised its position in shares of Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Etsy during the 3rd quarter valued at $59,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the 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 completion of the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Etsy Trading Down 0.3 %

ETSY stock opened at $51.26 on Friday. The stock has a 50-day moving average price of $54.43 and a two-hundred day moving average price of $53.78. The stock has a market cap of $5.77 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.55 and a beta of 2.00. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $74.82.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the business posted $0.62 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Etsy, Inc. will post 2.6 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday. Moffett Nathanson upped their target price on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price objective on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday. Barclays lowered their price objective on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and upped their price objective for the company from $45.00 to $55.00 in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average price target 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.