Brighton Jones LLC acquired a new stake in Etsy Inc (NASDAQ:ETSY) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 11,908 shares of the specialty retailer’s stock, valued at approximately $244,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its stake in Etsy by 12.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 1,092 shares in the last quarter. Principal Financial Group Inc. grew its stake in Etsy by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock valued at $241,000 after buying an additional 1,330 shares in the last quarter. Royal Bank of Canada grew its stake in Etsy by 30.3% in the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after buying an additional 2,049 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Etsy by 99.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,728 shares of the specialty retailer’s stock valued at $137,000 after buying an additional 3,361 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Etsy by 0.9% in the 3rd quarter. California Public Employees Retirement System now owns 385,600 shares of the specialty retailer’s stock valued at $6,509,000 after buying an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.
Etsy Inc (ETSY) opened at $19.42 on Wednesday. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.19. Etsy Inc has a fifty-two week low of $9.41 and a fifty-two week high of $21.86. The company has a market cap of $2,360.00 and a price-to-earnings ratio of 161.83.
Etsy declared that its Board of Directors has approved a stock buyback plan on Friday, November 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of research analysts recently weighed in on ETSY shares. Morgan Stanley lowered shares of Etsy from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective for the company. in a research note on Friday, January 12th. KeyCorp started coverage on shares of Etsy in a research note on Wednesday, December 20th. They issued an “overweight” rating for the company. BidaskClub lowered shares of Etsy from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Zacks Investment Research lowered shares of Etsy from a “hold” rating to a “sell” rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective (up from $16.00) on shares of Etsy in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Etsy presently has a consensus rating of “Hold” and an average price target of $16.19.
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Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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