Hussman Strategic Advisors Inc. Acquires 10,500 Shares of Etsy, Inc. $ETSY

Hussman Strategic Advisors Inc. increased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 33.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,000 shares of the specialty retailer’s stock after buying an additional 10,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Etsy were worth $2,788,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ETSY. Heritage Wealth Advisors grew its holdings in Etsy by 476.5% during the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 405 shares during the period. Signaturefd LLC grew its stake in shares of Etsy by 52.7% during the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in Etsy in the second quarter valued at about $35,000. Employees Retirement System of Texas bought a new stake in Etsy in the second quarter valued at about $47,000. Finally, SJS Investment Consulting Inc. lifted its stake in Etsy by 12,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 756 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Down 2.7%

Shares of NASDAQ:ETSY opened at $58.47 on Wednesday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 47.15, a PEG ratio of 10.65 and a beta of 1.74. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The company’s fifty day simple moving average is $56.56 and its 200 day simple moving average is $60.57.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $655.83 million. During the same quarter in the prior year, the company earned $0.45 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Etsy announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 18th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Etsy

In related news, CAO Merilee Buckley sold 11,827 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $61.47, for a total transaction of $727,005.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard Edward Colburn III sold 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $57.80, for a total value of $184,960.00. Following the completion of the sale, the insider owned 4,387 shares in the company, valued at $253,568.60. The trade was a 42.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 154,056 shares of company stock valued at $8,931,918 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ETSY. BNP Paribas Exane began coverage on Etsy in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Needham & Company LLC upped their target price on shares of Etsy from $72.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Stifel Nicolaus cut their target price on shares of Etsy from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Tuesday. Piper Sandler reissued a “neutral” rating on shares of Etsy in a report on Wednesday, October 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $78.00 price objective (down previously from $80.00) on shares of Etsy in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $63.72.

About Etsy

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.