Fiera Capital Corp Sells 23,587 Shares of Etsy, Inc. (NASDAQ:ETSY)

Fiera Capital Corp reduced its holdings in Etsy, Inc. (NASDAQ:ETSY) by 3.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 674,830 shares of the specialty retailer’s stock after selling 23,587 shares during the quarter. Fiera Capital Corp’s holdings in Etsy were worth $37,473,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in Etsy during the third quarter worth $43,000. Olympiad Research LP bought a new position in shares of Etsy during the 3rd quarter worth about $364,000. Principal Financial Group Inc. raised its position in shares of Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after buying an additional 411,165 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Etsy by 9.9% in the third quarter. Amalgamated Bank now owns 37,176 shares of the specialty retailer’s stock valued at $2,064,000 after buying an additional 3,351 shares during the period. Finally, United Advisor Group LLC acquired a new stake in Etsy during the third quarter worth about $220,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Trading Down 0.2 %

Shares of ETSY stock opened at $53.31 on Friday. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 6.17 and a beta of 1.99. The firm’s 50 day moving average is $52.37 and its 200-day moving average is $57.66. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $89.58.

Etsy (NASDAQ:ETSY) last announced 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 firm had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities research analysts forecast that Etsy, Inc. will post 2.25 earnings per share for the current fiscal year.

Etsy declared that its board has authorized a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $52.50, for a total transaction of $39,375.00. Following the transaction, the insider now directly owns 24,371 shares in the company, valued at approximately $1,279,477.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $52.50, for a total transaction of $39,375.00. Following the completion of the sale, the insider now directly owns 24,371 shares of the company’s stock, valued at $1,279,477.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders have sold a total of 5,369 shares of company stock worth $280,200 over the last 90 days. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Etsy in a report on Monday, October 7th. Wells Fargo & Company reduced their target price on Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Citigroup dropped their price objective on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Raymond James decreased their target price on shares of Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Wedbush dropped their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.87.

About Etsy

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.