Etsy, Inc. (NASDAQ:ETSY) Stock Holdings Decreased by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC lowered its stake in Etsy, Inc. (NASDAQ:ETSY) by 5.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 180,339 shares of the specialty retailer’s stock after selling 10,723 shares during the period. Rice Hall James & Associates LLC’s holdings in Etsy were worth $9,538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ETSY. Blue Trust Inc. grew its position in shares of Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Etsy during the 3rd quarter valued at about $834,000. Lecap Asset Management Ltd. grew its position in shares of Etsy by 75.2% during the 3rd quarter. Lecap Asset Management Ltd. now owns 17,859 shares of the specialty retailer’s stock valued at $992,000 after buying an additional 7,664 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Etsy during the 3rd quarter valued at about $1,233,000. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Etsy during the 3rd quarter valued at about $214,000. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

Etsy Price Performance

NASDAQ ETSY opened at $57.20 on Tuesday. The company’s 50 day simple moving average is $54.90 and its 200 day simple moving average is $53.86. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $78.65. The company has a market capitalization of $6.43 billion, a P/E ratio of 29.18, a PEG ratio of 2.71 and a beta of 2.00.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ETSY shares. Wells Fargo & Company lowered their price objective 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. Citigroup boosted their target price on shares of Etsy from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley reduced 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. Bank of America reduced their target price on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Finally, Barclays reduced their target price on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Etsy currently has a consensus rating of “Hold” and an average price target of $62.50.

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.