Moloney Securities Asset Management LLC Lowers Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Moloney Securities Asset Management LLC lessened its position in Etsy, Inc. (NASDAQ:ETSY) by 42.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,717 shares of the specialty retailer’s stock after selling 8,705 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Etsy were worth $620,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ETSY. Meritage Portfolio Management increased its stake in Etsy by 152.4% during the third quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock worth $14,698,000 after purchasing an additional 159,820 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Etsy in the third quarter valued at approximately $834,000. Pacer Advisors Inc. increased its stake in Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after buying an additional 3,861,668 shares during the period. Principal Financial Group Inc. lifted its holdings in Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after buying an additional 411,165 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock worth $6,576,000 after acquiring an additional 85,396 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Down 1.9 %

Shares of ETSY stock opened at $54.40 on Monday. The stock’s 50-day moving average price is $55.20 and its 200 day moving average price is $54.19. The stock has a market capitalization of $6.12 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.71 and a beta of 2.00. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $80.30.

Etsy announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

ETSY has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Morgan Stanley decreased their price objective on Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Etsy in a research report on Thursday, October 31st. Raymond James reduced their target price on shares of Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus target price of $62.42.

Etsy Company Profile

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.