Mirae Asset Global Investments Co. Ltd. Has $51,000 Holdings in Etsy, Inc. (NASDAQ:ETSY)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Etsy, Inc. (NASDAQ:ETSY) by 41.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 959 shares of the specialty retailer’s stock after selling 679 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Etsy were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Etsy in the third quarter valued at approximately $55,530,000. Holocene Advisors LP acquired a new position in shares of Etsy in the third quarter valued at approximately $49,061,000. Assenagon Asset Management S.A. increased its position in shares of Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after acquiring an additional 850,520 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after acquiring an additional 411,165 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Performance

Shares of ETSY opened at $57.20 on Friday. The firm has a market cap of $6.43 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 2.71 and a beta of 2.00. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $78.65. The firm’s 50-day simple moving average is $54.93 and its 200 day simple moving average is $54.03.

Etsy announced that its board has authorized a share repurchase plan on Wednesday, October 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 28th. Morgan Stanley decreased their price objective on Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Etsy in a research note on Thursday, October 31st. Citigroup raised their price target on shares of Etsy from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Barclays cut their price objective on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.50.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Etsy 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.