Caprock Group LLC Takes $1.44 Million Position in Etsy, Inc. $ETSY

Caprock Group LLC acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,749 shares of the specialty retailer’s stock, valued at approximately $1,444,000.

Other large investors have also added to or reduced their stakes in the company. Heritage Wealth Advisors increased its position in Etsy by 476.5% in the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 405 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Etsy during the 2nd quarter worth about $35,000. Employees Retirement System of Texas bought a new stake in shares of Etsy in the 2nd quarter valued at about $47,000. SJS Investment Consulting Inc. increased its stake in shares of Etsy by 12,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 756 shares during the period. Finally, Salomon & Ludwin LLC bought a new position in shares of Etsy during the third quarter worth about $55,000. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, insider Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $53.26, for a total value of $1,153,931.16. Following the transaction, the insider directly owned 90,661 shares of the company’s stock, valued at approximately $4,828,604.86. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 5,636 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $58.45, for a total transaction of $329,424.20. The SEC filing for this sale provides additional information. In the last three months, insiders sold 135,934 shares of company stock valued at $7,663,369. 2.80% of the stock is currently owned by insiders.

Etsy Stock Performance

ETSY stock opened at $45.75 on Friday. The stock’s 50 day simple moving average is $56.36 and its 200 day simple moving average is $59.88. The company has a market cap of $4.52 billion, a P/E ratio of 36.89, a price-to-earnings-growth ratio of 10.65 and a beta of 1.77. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.51.

Etsy declared that its board has initiated a share buyback program on Thursday, December 18th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 14.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on ETSY shares. Wedbush decreased their target price on shares of Etsy from $72.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. BNP Paribas Exane initiated coverage on shares of Etsy in a research note on Monday, November 24th. They issued a “neutral” rating on the stock. B. Riley Financial reissued a “buy” rating on shares of Etsy in a research note on Thursday, October 30th. Wells Fargo & Company cut their price target on shares of Etsy from $58.00 to $52.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Finally, BTIG Research cut their target price on Etsy from $81.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.52.

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.