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

Entropy Technologies LP cut its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 34.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Etsy by 7.0% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 3,659 shares of the specialty retailer’s stock worth $251,000 after buying an additional 240 shares during the last quarter. Meridian Management Co. boosted its holdings in shares of Etsy by 0.4% during the 2nd quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock worth $3,740,000 after buying an additional 241 shares during the period. GAMMA Investing LLC grew its stake in Etsy by 25.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock valued at $73,000 after buying an additional 253 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares during the period. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETSY has been the topic of several research reports. Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group lowered Etsy from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $70.00 to $45.00 in a report on Tuesday, October 15th. Wells Fargo & Company dropped their target price on Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Friday, November 1st. UBS Group lowered their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Barclays cut their price objective on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.87.

Etsy Trading Down 1.1 %

Shares of Etsy stock opened at $53.43 on Thursday. The firm has a market capitalization of $6.01 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 6.37 and a beta of 1.99. The firm’s 50 day moving average is $52.29 and its 200 day moving average is $57.30. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $89.58.

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

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

Insider Activity

In related news, CAO Merilee Buckley sold 1,676 shares of the firm’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 value of $85,660.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nicholas Daniel sold 750 shares of the 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,369 shares of company stock valued at $280,200. 2.60% of the stock is currently owned by corporate insiders.

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.