Penserra Capital Management LLC increased its stake in Etsy Inc (NASDAQ:ETSY) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 318,333 shares of the specialty retailer’s stock after purchasing an additional 48,465 shares during the quarter. Penserra Capital Management LLC’s holdings in Etsy were worth $6,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted 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 worth $152,000 after purchasing an additional 1,092 shares during the period. Principal Financial Group Inc. boosted 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 worth $241,000 after purchasing an additional 1,330 shares during the period. Amalgamated Bank boosted its stake in Etsy by 14.9% in 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 during the period. Royal Bank of Canada boosted 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 worth $133,000 after purchasing an additional 2,049 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted 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 worth $137,000 after purchasing an additional 3,361 shares during the period. 76.29% of the stock is owned by hedge funds and other institutional investors.

Etsy Inc (ETSY) opened at $18.63 on Monday. Etsy Inc has a one year low of $9.41 and a one year high of $21.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.26 and a current ratio of 4.26. The company has a market cap of $2,267.54, a PE ratio of 74.52, a PEG ratio of 3.64 and a beta of 0.92.

Etsy declared that its board has approved a share buyback program on Friday, November 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Etsy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $18.00 target price (up from $15.00) on shares of Etsy in a research note on Tuesday, November 7th. Ifs Securities reaffirmed an “outperform” rating and issued a $22.00 target price (up from $18.00) on shares of Etsy in a research note on Tuesday, November 7th. Royal Bank of Canada upped their target price on shares of Etsy from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 7th. Finally, BidaskClub lowered shares of Etsy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Etsy currently has an average rating of “Hold” and a consensus target price of $16.19.

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Etsy 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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