Commerce Bank Sells 871 Shares of Etsy, Inc. (NASDAQ:ETSY)

Commerce Bank decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,402 shares of the specialty retailer’s stock after selling 871 shares during the period. Commerce Bank’s holdings in Etsy were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETSY. Blue Trust Inc. grew its stake in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. UMB Bank n.a. boosted 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 valued at $31,000 after purchasing an additional 292 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Etsy during the 2nd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of Etsy during the third quarter worth approximately $43,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Etsy in the third quarter valued at approximately $59,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETSY has been the topic of a number of analyst reports. Moffett Nathanson raised their price objective on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday. Loop Capital decreased their price target on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus cut their price objective on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Piper Sandler reissued a “neutral” rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Finally, Truist Financial cut their price target on shares of Etsy from $76.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Etsy presently has a consensus rating of “Hold” and an average target price of $64.71.

Insider Activity

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $52.50, for a total value of $39,375.00. Following the transaction, the insider now directly owns 24,371 shares of the company’s stock, valued at $1,279,477.50. The trade was a 2.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,819 shares of company stock valued at $303,438. 2.60% of the stock is currently owned by insiders.

Etsy Stock Down 1.6 %

Shares of NASDAQ:ETSY opened at $54.78 on Wednesday. The firm has a market cap of $6.16 billion, a P/E ratio of 27.95, a P/E/G ratio of 6.17 and a beta of 1.99. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $89.58. The business has a fifty day simple moving average of $52.00 and a 200 day simple moving average of $56.54.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. Etsy’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, equities research analysts expect that Etsy, Inc. will post 2.25 EPS for the current year.

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

Etsy 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.