Mutual of America Capital Management LLC Raises Holdings in Etsy, Inc. (NASDAQ:ETSY)

Mutual of America Capital Management LLC boosted its stake in Etsy, Inc. (NASDAQ:ETSY) by 17.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,259 shares of the specialty retailer’s stock after purchasing an additional 2,502 shares during the period. Mutual of America Capital Management LLC’s holdings in Etsy were worth $958,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares during the period. UMB Bank n.a. increased its position in Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the period. 1620 Investment Advisors Inc. bought a new position in Etsy in the 2nd quarter worth $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Etsy in the 3rd quarter worth about $43,000. Finally, GAMMA Investing LLC boosted its stake in shares of Etsy by 25.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock valued at $73,000 after purchasing an additional 253 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

NASDAQ ETSY opened at $54.78 on Wednesday. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $89.58. The firm has a market capitalization of $6.16 billion, a P/E ratio of 27.95, a P/E/G ratio of 6.17 and a beta of 1.99. The business’s 50-day simple moving average is $52.00 and its 200-day simple moving average is $56.54.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The company had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, equities research analysts expect that Etsy, Inc. will post 2.25 EPS for the current fiscal year.

Etsy announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $52.50, for a total value of $39,375.00. Following the sale, the insider now directly owns 24,371 shares in the company, valued at $1,279,477.50. This trade represents a 2.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the sale, the insider now directly owns 592 shares in the company, valued at $30,257.12. The trade was a 70.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,819 shares of company stock worth $303,438. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETSY. Barclays lowered their target price on Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. UBS Group dropped their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Moffett Nathanson increased their price target on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday. Raymond James dropped their price objective on shares of Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wedbush cut their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.71.

Etsy Company Profile

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.