Entropy Technologies LP Has $900,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Entropy Technologies LP cut its holdings in Etsy, Inc. (NASDAQ:ETSY) by 34.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,213 shares of the specialty retailer’s stock after selling 8,396 shares during the quarter. Entropy Technologies LP’s holdings in Etsy were worth $900,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ETSY. Apollon Wealth Management LLC acquired a new position in shares of Etsy in the third quarter valued at approximately $225,000. Meritage Portfolio Management boosted its stake in Etsy by 152.4% in the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock worth $14,698,000 after purchasing an additional 159,820 shares during the period. Assetmark Inc. increased its holdings in Etsy by 9.0% during the 3rd quarter. Assetmark Inc. now owns 24,411 shares of the specialty retailer’s stock worth $1,356,000 after purchasing an additional 2,025 shares in the last quarter. Applied Finance Capital Management LLC acquired a new stake in shares of Etsy in the 3rd quarter valued at about $1,289,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Etsy in the third quarter valued at about $43,000. 99.53% of the stock is owned by institutional investors.

Etsy Stock Performance

NASDAQ:ETSY opened at $53.43 on Thursday. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58. The firm’s 50-day simple moving average is $52.29 and its 200 day simple moving average is $57.30. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 6.37 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Sell-side analysts anticipate that Etsy, Inc. will post 2.25 EPS for the current year.

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

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $52.50, for a total value of $39,375.00. Following the transaction, the insider now owns 24,371 shares in the company, valued at approximately $1,279,477.50. This trade represents a 0.00 % 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. In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $52.50, for a total transaction of $39,375.00. Following the sale, the insider now directly owns 24,371 shares in the company, valued at $1,279,477.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. In the last three months, insiders sold 5,369 shares of company stock worth $280,200. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ETSY shares. Deutsche Bank Aktiengesellschaft lifted their target price on Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Barclays cut their price objective on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company decreased their target price on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Stifel Nicolaus cut their price target on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Loop Capital decreased their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and an average price target of $64.87.

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.