Virginia Retirement Systems ET AL acquired a new stake in shares of Etsy Inc (NASDAQ:ETSY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 37,000 shares of the specialty retailer’s stock, valued at approximately $625,000.
A number of other hedge funds have also recently modified their holdings of ETSY. UBS Group AG grew its position in shares of Etsy by 30.7% during the 1st quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock valued at $108,000 after acquiring an additional 2,373 shares during the period. Royal Bank of Canada grew its position in shares of Etsy by 30.3% during the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after acquiring an additional 2,049 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Etsy by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock valued at $152,000 after acquiring an additional 1,092 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of Etsy during the 3rd quarter valued at about $211,000. Finally, Amalgamated Bank boosted its holdings in Etsy by 14.9% in the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock worth $222,000 after buying an additional 1,920 shares during the last quarter. Institutional investors own 74.40% of the company’s stock.
Etsy Inc (NASDAQ:ETSY) traded up $0.38 during trading hours on Tuesday, hitting $20.83. 1,900,000 shares of the company’s stock traded hands, compared to its average volume of 2,530,000. The firm has a market capitalization of $2,540.00 and a P/E ratio of 173.58. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.19. Etsy Inc has a fifty-two week low of $9.41 and a fifty-two week high of $21.86.
Etsy declared that its Board of Directors has approved a share repurchase program on Friday, November 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities research analysts recently issued reports on the company. BidaskClub upgraded Etsy from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. KeyCorp initiated coverage on Etsy in a report on Wednesday, December 20th. They issued an “overweight” rating on the stock. Zacks Investment Research lowered shares of Etsy from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Stifel Nicolaus reissued a “hold” rating and issued a $18.00 target price (up from $15.00) on shares of Etsy in a research note on Tuesday, November 7th. Finally, Ifs Securities reissued an “outperform” rating and issued a $22.00 target price (up from $18.00) on shares of Etsy in a research note on Tuesday, November 7th. Eleven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Etsy has a consensus rating of “Hold” and an average price target of $15.69.
In other Etsy news, Director Frederick R. Wilson sold 87,938 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $16.24, for a total value of $1,428,113.12. Following the completion of the transaction, the director now owns 822,062 shares in the company, valued at $13,350,286.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.
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Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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