Great Lakes Advisors LLC Invests $1.89 Million in Etsy, Inc. $ETSY

Great Lakes Advisors LLC bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 28,455 shares of the specialty retailer’s stock, valued at approximately $1,889,000.

A number of other large investors also recently added to or reduced their stakes in ETSY. Heritage Wealth Advisors raised its position in shares of Etsy by 476.5% during the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 405 shares during the last quarter. Signaturefd LLC grew its stake in Etsy by 52.7% during the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 192 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Etsy in the 2nd quarter valued at $35,000. Employees Retirement System of Texas purchased a new stake in Etsy in the 2nd quarter worth $47,000. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Etsy by 12,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 756 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Performance

NASDAQ:ETSY opened at $52.81 on Friday. The firm has a market capitalization of $5.21 billion, a PE ratio of 42.59, a PEG ratio of 10.65 and a beta of 1.74. The stock’s fifty day moving average is $56.70 and its 200 day moving average is $60.51. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.51.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy announced that its Board of Directors has initiated a share buyback plan on Thursday, December 18th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the specialty retailer to purchase up to 14.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ETSY shares. B. Riley reaffirmed a “buy” rating on shares of Etsy in a report on Thursday, October 30th. Evercore ISI downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Wells Fargo & Company lowered their target price on Etsy from $58.00 to $52.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings raised shares of Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, BNP Paribas Exane initiated coverage on shares of Etsy in a research note on Monday, November 24th. They set a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average price target of $63.72.

Insider Activity

In other Etsy news, insider Josh Silverman sold 86,666 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $57.46, for a total value of $4,979,828.36. Following the completion of the sale, the insider owned 90,661 shares of the company’s stock, valued at $5,209,381.06. This trade represents a 48.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Merilee Buckley sold 5,636 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $58.45, for a total value of $329,424.20. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 154,056 shares of company stock valued at $8,931,918. Company insiders own 2.80% of the company’s stock.

About Etsy

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.