Etsy Inc (NASDAQ:ETSY) – Research analysts at KeyCorp issued their FY2017 earnings per share estimates for Etsy in a research note issued on Wednesday. KeyCorp analyst E. Yruma anticipates that the specialty retailer will post earnings per share of $0.40 for the year. KeyCorp has a “Overweight” rating on the stock. KeyCorp also issued estimates for Etsy’s Q4 2017 earnings at $0.09 EPS, Q1 2018 earnings at $0.04 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.16 EPS, FY2018 earnings at $0.31 EPS and FY2019 earnings at $0.43 EPS.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Etsy from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Friday, September 15th. DA Davidson began coverage on Etsy in a report on Wednesday, September 6th. They set a “buy” rating and a $18.00 target price for the company. BidaskClub raised Etsy from a “hold” rating to a “buy” rating in a report on Saturday, December 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $18.00 target price (up previously from $15.00) on shares of Etsy in a report on Tuesday, November 7th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $14.50 target price on shares of Etsy in a report on Wednesday, October 4th. Eleven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.69.
Etsy announced that its board has approved a share buyback plan on Friday, November 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Frederick R. Wilson sold 87,938 shares of Etsy stock in a transaction that occurred 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 directly owns 822,062 shares in the company, valued at $13,350,286.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in ETSY. Janus Henderson Group PLC purchased a new stake in shares of Etsy in the second quarter valued at approximately $95,291,000. TPG Group Holdings SBS Advisors Inc. increased its position in shares of Etsy by 2,287.5% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 5,003,888 shares of the specialty retailer’s stock valued at $75,058,000 after buying an additional 4,794,297 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of Etsy in the second quarter valued at approximately $16,650,000. Prudential Financial Inc. purchased a new stake in shares of Etsy in the third quarter valued at approximately $13,091,000. Finally, Pictet Asset Management Ltd. purchased a new stake in shares of Etsy in the third quarter valued at approximately $11,541,000. Institutional investors own 74.40% of the company’s stock.
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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