Robeco Institutional Asset Management B.V. Buys 190,294 Shares of Etsy, Inc. (NASDAQ:ETSY)

Robeco Institutional Asset Management B.V. grew its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 74.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 447,128 shares of the specialty retailer’s stock after purchasing an additional 190,294 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.40% of Etsy worth $23,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Sector Pension Investment Board acquired a new position in Etsy in the second quarter valued at $249,000. The Manufacturers Life Insurance Company lifted its stake in shares of Etsy by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 96,488 shares of the specialty retailer’s stock valued at $5,691,000 after purchasing an additional 1,720 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Etsy in the 2nd quarter valued at about $967,000. Diversified Trust Co boosted its position in shares of Etsy by 58.8% during the 3rd quarter. Diversified Trust Co now owns 10,257 shares of the specialty retailer’s stock valued at $570,000 after purchasing an additional 3,798 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in Etsy during the third quarter worth approximately $279,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ETSY. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and increased their price target for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Etsy in a report on Thursday, October 31st. Barclays dropped their price objective 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. Bank of America reduced their target price on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Etsy in a research note on Monday, October 7th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.42.

Etsy Stock Up 1.8 %

Shares of ETSY opened at $56.06 on Friday. The business’s 50-day moving average price is $55.15 and its 200-day moving average price is $54.63. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $80.30. The stock has a market cap of $6.31 billion, a PE ratio of 28.60, a P/E/G ratio of 2.55 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Analysts expect that Etsy, Inc. will post 2.26 earnings per share for the current fiscal year.

Etsy announced that its board has authorized a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 17.8% of its shares through open market purchases. Shares repurchase plans 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.