Etsy Inc (NASDAQ:ETSY) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,731,360 shares, a decline of 36.2% from the January 12th total of 4,280,122 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average trading volume of 1,360,447 shares, the short-interest ratio is currently 2.0 days.
Institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in shares of Etsy by 99.8% during the fourth 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 during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Etsy during the fourth quarter valued at about $154,000. Royal Bank of Canada raised its position in shares of Etsy by 30.3% during the second 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 during the last quarter. Keybank National Association OH acquired a new position in shares of Etsy during the fourth quarter valued at about $205,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Etsy by 12.0% during the second 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 during the last quarter. 76.29% of the stock is owned by institutional investors and hedge funds.
Etsy (NASDAQ:ETSY) traded up $0.53 during trading on Wednesday, reaching $19.95. 2,602,174 shares of the company’s stock were exchanged, compared to its average volume of 1,888,527. The firm has a market cap of $2,430.00 and a price-to-earnings ratio of 166.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.26 and a current ratio of 4.26. Etsy has a 52-week low of $9.41 and a 52-week high of $21.86.
Etsy declared that its Board of Directors has approved a share buyback plan on Friday, November 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
A number of research analysts have weighed in on ETSY shares. BidaskClub lowered shares of Etsy from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. Zacks Investment Research lowered shares of Etsy from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. KeyCorp started coverage on shares of Etsy in a research report on Wednesday, December 20th. They set an “overweight” rating for the company. Stifel Nicolaus reissued a “hold” rating and set a $18.00 target price (up previously from $15.00) on shares of Etsy in a research report on Tuesday, November 7th. Finally, Royal Bank of Canada boosted their target price on shares of Etsy from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock 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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