PYA Waltman Capital LLC Purchases 1,320 Shares of Etsy, Inc. (NASDAQ:ETSY)

PYA Waltman Capital LLC raised its holdings in Etsy, Inc. (NASDAQ:ETSY) by 5.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,368 shares of the specialty retailer’s stock after buying an additional 1,320 shares during the quarter. PYA Waltman Capital LLC’s holdings in Etsy were worth $1,289,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its position in Etsy by 106.5% in the 3rd 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 last quarter. Kestra Investment Management LLC bought a new stake in shares of Etsy in the 4th quarter worth approximately $38,000. Capital Performance Advisors LLP acquired a new position in shares of Etsy in the third quarter valued at $43,000. Versant Capital Management Inc boosted its stake in Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after buying an additional 499 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in Etsy in the 3rd quarter valued at $59,000. 99.53% of the stock is owned by institutional investors.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on ETSY shares. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Etsy in a research report on Thursday. Canaccord Genuity Group decreased their target price on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald lowered their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday. Moffett Nathanson upped their price target on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and reduced their target price for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.08.

Etsy Stock Performance

Shares of Etsy stock opened at $51.40 on Friday. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $78.65. The firm has a 50-day moving average of $54.58 and a 200-day moving average of $53.81. The stock has a market cap of $5.78 billion, a PE ratio of 21.69, a PEG ratio of 2.55 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. Equities research analysts predict that Etsy, Inc. will post 2.6 earnings per share for the current fiscal year.

Etsy announced that its board has approved a share buyback plan on Wednesday, October 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board 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.