Yousif Capital Management LLC Has $2.27 Million Stake in Etsy, Inc. (NASDAQ:ETSY)

Yousif Capital Management LLC lowered its position in Etsy, Inc. (NASDAQ:ETSY) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 42,895 shares of the specialty retailer’s stock after selling 1,990 shares during the quarter. Yousif Capital Management LLC’s holdings in Etsy were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ETSY. Blue Trust Inc. grew its holdings in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares during the period. UMB Bank n.a. boosted its stake in shares of Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 292 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Etsy during the 3rd quarter worth approximately $43,000. Versant Capital Management Inc raised its stake in Etsy by 153.1% in the 4th 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 during the period. Finally, Prospera Private Wealth LLC acquired a new stake in Etsy during the 3rd quarter valued at $59,000. Institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ETSY shares. Wells Fargo & Company dropped their price objective on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Barclays lowered their price target on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and increased their target price for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Finally, Bank of America reduced their price target on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.42.

Insider Buying and Selling at Etsy

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

Etsy Stock Down 0.4 %

NASDAQ ETSY opened at $54.18 on Tuesday. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 2.71 and a beta of 2.00. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $80.30. The business’s fifty day moving average is $55.18 and its 200 day moving average is $54.14.

Etsy declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.