Etsy Inc (NASDAQ:ETSY) shares gapped up before the market opened on Monday . The stock had previously closed at $19.02, but opened at $18.63. Etsy shares last traded at $18.63, with a volume of 2896200 shares trading hands.

A number of research firms have recently weighed in on ETSY. KeyCorp began coverage on shares of Etsy in a research report on Wednesday, December 20th. They set an “overweight” rating for the company. Ifs Securities reissued 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. Royal Bank of Canada increased their target price on shares of Etsy from $16.00 to $18.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 7th. Zacks Investment Research downgraded shares of Etsy from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. Finally, BidaskClub raised shares of Etsy from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.19.

The firm has a market cap of $2,266.32, a price-to-earnings ratio of 74.48, a P/E/G ratio of 3.64 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Renaissance Technologies LLC boosted its holdings in Etsy by 66.8% in the 4th quarter. Renaissance Technologies LLC now owns 5,631,800 shares of the specialty retailer’s stock worth $115,170,000 after buying an additional 2,255,391 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its holdings in Etsy by 9,134.0% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,459,522 shares of the specialty retailer’s stock worth $29,847,000 after buying an additional 1,443,716 shares during the period. Maverick Capital Ltd. bought a new position in Etsy in the 4th quarter worth approximately $21,709,000. OppenheimerFunds Inc. bought a new position in Etsy in the 4th quarter worth approximately $17,046,000. Finally, Wells Fargo & Company MN boosted its holdings in Etsy by 54.0% in the 4th quarter. Wells Fargo & Company MN now owns 2,329,941 shares of the specialty retailer’s stock worth $47,647,000 after buying an additional 816,636 shares during the period. 76.29% of the stock is owned by institutional investors.

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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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