24,278 Shares in Etsy, Inc. (NASDAQ:ETSY) Purchased by Savant Capital LLC

Savant Capital LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,278 shares of the specialty retailer’s stock, valued at approximately $1,284,000.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of Etsy in the 4th quarter worth approximately $329,000. American Capital Advisory LLC raised its stake in Etsy by 1,204,900.0% during the fourth quarter. American Capital Advisory LLC now owns 12,050 shares of the specialty retailer’s stock valued at $637,000 after buying an additional 12,049 shares during the last quarter. Lecap Asset Management Ltd. boosted its holdings in Etsy by 193.5% in the fourth quarter. Lecap Asset Management Ltd. now owns 52,424 shares of the specialty retailer’s stock worth $2,773,000 after acquiring an additional 34,565 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock worth $92,452,000 after acquiring an additional 188,386 shares during the last quarter. Finally, Gagnon Securities LLC increased its holdings in shares of Etsy by 7.9% during the fourth quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after acquiring an additional 376 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Citigroup dropped their target price on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley reduced their price target on shares of Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company lowered their price objective on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Finally, Moffett Nathanson lifted their target price on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and an average price target of $62.42.

Etsy Stock Performance

NASDAQ:ETSY opened at $55.32 on Friday. The stock has a 50-day simple moving average of $54.94 and a two-hundred day simple moving average of $54.08. The firm has a market capitalization of $6.22 billion, a PE ratio of 28.22, a P/E/G 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 $78.65.

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

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

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.