Van ECK Associates Corp Boosts Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Van ECK Associates Corp grew its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 17.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,527,742 shares of the specialty retailer’s stock after purchasing an additional 522,111 shares during the quarter. Van ECK Associates Corp owned approximately 3.14% of Etsy worth $186,583,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ETSY. Blue Trust Inc. increased its holdings in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after buying an additional 231 shares during the period. UMB Bank n.a. lifted its holdings in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares during the period. Gagnon Securities LLC grew its position in shares of Etsy by 7.9% in the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock worth $272,000 after buying an additional 376 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Etsy by 11.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock valued at $239,000 after buying an additional 448 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 499 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Etsy in a research report on Thursday, October 31st. Wedbush dropped their price target on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Citigroup decreased their price objective on Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Moffett Nathanson raised their price objective on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Etsy currently has an average rating of “Hold” and an average target price of $62.42.

Etsy Trading Down 0.9 %

Shares of NASDAQ ETSY opened at $52.79 on Thursday. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $78.65. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.71 and a beta of 2.00. The firm has a 50 day moving average of $54.97 and a 200 day moving average of $54.07.

Etsy announced that its board has initiated a stock buyback program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management 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.