Landscape Capital Management L.L.C. Purchases 36,137 Shares of Etsy Inc $ETSY

Landscape Capital Management L.L.C. increased its holdings in Etsy Inc (NYSE:ETSY) by 127.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,526 shares of the company’s stock after acquiring an additional 36,137 shares during the period. Landscape Capital Management L.L.C. owned about 0.07% of Etsy worth $4,284,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after purchasing an additional 158 shares during the period. Alamea Verwaltungs GmbH raised its stake in shares of Etsy by 2.3% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after purchasing an additional 169 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Etsy by 0.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the company’s stock worth $1,440,000 after buying an additional 172 shares during the last quarter. Heron Bay Capital Management boosted its holdings in shares of Etsy by 0.8% in the 2nd quarter. Heron Bay Capital Management now owns 26,215 shares of the company’s stock worth $1,315,000 after buying an additional 219 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in Etsy by 5.2% during the third quarter. Ballentine Partners LLC now owns 4,951 shares of the company’s stock valued at $329,000 after buying an additional 243 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 86,666 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $57.46, for a total transaction of $4,979,828.36. Following the completion of the transaction, the insider directly owned 90,661 shares in the company, valued at $5,209,381.06. The trade was a 48.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Andrew Ballard sold 1,790 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total transaction of $99,774.60. Following the completion of the transaction, the director directly owned 4,006 shares in the company, valued at approximately $223,294.44. The trade was a 30.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 116,058 shares of company stock valued at $6,576,362. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ETSY. Stifel Nicolaus lowered their price objective on shares of Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. UBS Group reduced their target price on shares of Etsy from $74.00 to $53.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. BNP Paribas Exane assumed coverage on shares of Etsy in a report on Monday, November 24th. They issued a “neutral” rating on the stock. BTIG Research reduced their price objective on Etsy from $74.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, JPMorgan Chase & Co. lowered their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and an average target price of $60.80.

Etsy Stock Up 2.9%

Etsy stock traded up $1.53 during mid-day trading on Friday, reaching $53.52. The company’s stock had a trading volume of 270,561 shares, compared to its average volume of 3,853,983. The stock has a fifty day moving average of $55.49. Etsy Inc has a 12-month low of $40.05 and a 12-month high of $76.51. The firm has a market cap of $5.15 billion, a P/E ratio of 41.04, a P/E/G ratio of 3.35 and a beta of 1.74.

Etsy (NYSE:ETSY) last issued its earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.The business had revenue of $881.64 million during the quarter.

Etsy declared that its board has approved a stock buyback program on Thursday, December 18th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to purchase up to 14.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Etsy Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.