Wells Fargo & Company MN boosted its position in Etsy Inc (NASDAQ:ETSY) by 23.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,513,305 shares of the specialty retailer’s stock after buying an additional 288,585 shares during the period. Wells Fargo & Company MN owned approximately 1.28% of Etsy worth $25,545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its position in shares of Etsy by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 1,092 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Etsy by 9.0% during the 2nd quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock worth $241,000 after purchasing an additional 1,330 shares in the last quarter. Amalgamated Bank boosted its position in shares of Etsy by 14.9% during the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock worth $222,000 after purchasing an additional 1,920 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Etsy by 30.3% during the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock worth $133,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Etsy by 7.6% during the 2nd quarter. Nationwide Fund Advisors now owns 65,642 shares of the specialty retailer’s stock worth $985,000 after purchasing an additional 4,635 shares in the last quarter. Institutional investors own 74.42% of the company’s stock.

Several equities research analysts have commented on the stock. 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. Ifs Securities restated an “outperform” rating and set a $22.00 target price (up from $18.00) on shares of Etsy in a research report on Tuesday, November 7th. Zacks Investment Research lowered shares of Etsy from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Stifel Nicolaus restated a “hold” rating and set a $18.00 target price (up from $15.00) on shares of Etsy in a research report on Tuesday, November 7th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $14.50 target price on shares of Etsy in a research report on Wednesday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Etsy presently has a consensus rating of “Hold” and an average target price of $15.69.

Etsy Inc (ETSY) opened at $20.50 on Friday. The stock has a market capitalization of $2,451.33, a price-to-earnings ratio of 80.56, a PEG ratio of 3.10 and a beta of 1.15. 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 Inc has a one year low of $9.41 and a one year high of $20.54.

Etsy declared that its board has initiated a stock repurchase program on Friday, November 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In other news, Director Frederick R. Wilson sold 87,938 shares of Etsy stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $16.24, for a total transaction of $1,428,113.12. Following the completion of the transaction, the director now owns 822,062 shares of the company’s stock, valued at approximately $13,350,286.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.00% of the company’s stock.

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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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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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