Lmcg Investments LLC Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

Lmcg Investments LLC acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 27,132 shares of the specialty retailer’s stock, valued at approximately $1,435,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position in Etsy by 106.5% in the third 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 period. UMB Bank n.a. grew its holdings in shares of Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Etsy during the 3rd quarter worth about $43,000. Versant Capital Management Inc lifted its holdings in 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 purchasing an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Etsy in the third quarter valued at about $59,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $52.50, for a total transaction of $39,375.00. Following the completion of the sale, the insider now owns 24,371 shares of the company’s stock, valued at $1,279,477.50. This represents a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

ETSY has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Etsy in a research note on Monday, October 7th. Raymond James lowered their target price on Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Barclays reduced their price target 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. Finally, Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and upped their target price for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Etsy has an average rating of “Hold” and an average price target of $62.54.

Etsy Stock Down 2.0 %

Shares of ETSY stock opened at $52.05 on Wednesday. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $80.30. The firm has a fifty day moving average of $54.75 and a 200-day moving average of $54.77. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last posted its earnings results 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). 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 revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Research analysts expect that Etsy, Inc. will post 2.26 earnings per share for the current year.

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

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.