Aristides Capital LLC Takes $996,000 Position in Etsy Inc $ETSY

Aristides Capital LLC acquired a new stake in Etsy Inc (NYSE:ETSY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $996,000.

Several other hedge funds have also added to or reduced their stakes in ETSY. Integrated Wealth Concepts LLC increased its holdings in shares of Etsy by 19.1% in the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after acquiring an additional 961 shares in the last quarter. Empowered Funds LLC grew its position in shares of Etsy by 55.5% in the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after purchasing an additional 3,451 shares during the period. Woodline Partners LP acquired a new position in shares of Etsy in the 1st quarter valued at approximately $2,181,000. Fox Run Management L.L.C. bought a new stake in Etsy during the 2nd quarter worth approximately $396,000. Finally, Prospera Financial Services Inc acquired a new stake in Etsy during the 2nd quarter worth approximately $805,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Trading Down 1.5%

Etsy stock opened at $51.88 on Friday. Etsy Inc has a 1-year low of $40.05 and a 1-year high of $76.51. The company has a fifty day simple moving average of $55.49. The company has a market capitalization of $4.99 billion, a P/E ratio of 39.60, a P/E/G ratio of 3.35 and a beta of 1.74.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $881.64 million during the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%.

Etsy declared that its Board of Directors has authorized 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 company to repurchase up to 14.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Charles Andrew Ballard sold 1,790 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total transaction of $99,774.60. Following the completion of the transaction, the director directly owned 4,006 shares of the company’s stock, valued at approximately $223,294.44. This represents a 30.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Josh Silverman sold 21,666 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 90,661 shares of the company’s stock, valued at approximately $4,828,604.86. This represents a 19.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 116,058 shares of company stock worth $6,576,362. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the subject of several research analyst reports. BNP Paribas Exane initiated coverage on shares of Etsy in a report on Monday, November 24th. They issued a “neutral” rating for the company. Wall Street Zen raised shares of Etsy from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Jefferies Financial Group reduced their target price on shares of Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Truist Financial increased their target price on Etsy from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Needham & Company LLC dropped their price target on Etsy from $76.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.80.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.