Hussman Strategic Advisors Inc. Purchases 10,500 Shares of Etsy, Inc. $ETSY

Hussman Strategic Advisors Inc. raised its position in Etsy, Inc. (NASDAQ:ETSY) by 33.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,000 shares of the specialty retailer’s stock after acquiring an additional 10,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Etsy were worth $2,788,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Holocene Advisors LP lifted its position in Etsy by 697.4% in the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer’s stock worth $268,045,000 after purchasing an additional 4,673,615 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Etsy by 62.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer’s stock valued at $185,197,000 after buying an additional 1,416,772 shares in the last quarter. Norges Bank acquired a new position in shares of Etsy in the 2nd quarter valued at $65,207,000. Artisan Partners Limited Partnership bought a new position in shares of Etsy during the 2nd quarter worth about $50,033,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Etsy by 37.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,552,308 shares of the specialty retailer’s stock valued at $103,058,000 after acquiring an additional 424,461 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ETSY. Canaccord Genuity Group increased their price target on shares of Etsy from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Evercore ISI cut Etsy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $78.00 price target (down previously from $80.00) on shares of Etsy in a research note on Thursday, October 30th. The Goldman Sachs Group upped their price target on Etsy from $48.00 to $57.00 and gave the company a “sell” rating in a research report on Thursday, October 30th. Finally, Bank of America lifted their price objective on Etsy from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.72.

Insider Activity at Etsy

In related news, CMO Bradley Minor sold 3,095 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $57.81, for a total value of $178,921.95. Following the completion of the transaction, the chief marketing officer owned 7,373 shares in the company, valued at $426,233.13. The trade was a 29.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Josh Silverman sold 86,666 shares of the stock in a transaction on 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 transaction, the insider owned 90,661 shares in the company, valued at $5,209,381.06. The trade was a 48.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 154,056 shares of company stock valued at $8,931,918. Insiders own 2.80% of the company’s stock.

Etsy Stock Performance

Etsy stock opened at $58.47 on Wednesday. The business’s fifty day moving average is $56.56 and its two-hundred day moving average is $60.57. The firm has a market cap of $5.77 billion, a P/E ratio of 47.15, a P/E/G ratio of 10.65 and a beta of 1.74. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51.

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

Etsy announced that its Board of Directors has approved a share buyback program on Thursday, December 18th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the specialty retailer to repurchase up to 14.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.