Gagnon Securities LLC Raises Position in Etsy, Inc. (NASDAQ:ETSY)

Gagnon Securities LLC lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,148 shares of the specialty retailer’s stock after acquiring an additional 376 shares during the period. Gagnon Securities LLC’s holdings in Etsy were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. increased its position in Etsy by 74.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 447,128 shares of the specialty retailer’s stock worth $23,649,000 after buying an additional 190,294 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Etsy by 1,298.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,931 shares of the specialty retailer’s stock valued at $208,000 after buying an additional 3,650 shares during the period. JBGlobal.com LLC bought a new stake in Etsy during the fourth quarter worth about $404,000. Lmcg Investments LLC bought a new stake in Etsy during the fourth quarter worth about $1,435,000. Finally, Ameritas Advisory Services LLC lifted its stake in Etsy by 3.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 16,662 shares of the specialty retailer’s stock worth $881,000 after purchasing an additional 631 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ETSY shares. Wells Fargo & Company decreased their price objective on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Moffett Nathanson boosted their price target on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley reduced their price target on Etsy from $47.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.42.

Etsy Price Performance

NASDAQ ETSY opened at $54.91 on Friday. The business’s fifty day moving average price is $55.21 and its 200-day moving average price is $54.59. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 2.69 and a beta of 1.99. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $80.30.

Etsy (NASDAQ:ETSY) last announced its 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). The company had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. Etsy’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Equities research analysts anticipate that Etsy, Inc. will post 2.25 EPS for the current year.

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

About Etsy

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.