Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in Etsy, Inc. (NASDAQ:ETSY) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,041 shares of the specialty retailer’s stock after selling 218 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Etsy were worth $901,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Meritage Portfolio Management raised its position in Etsy by 152.4% in the third quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock worth $14,698,000 after acquiring an additional 159,820 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after purchasing an additional 3,861,668 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after purchasing an additional 411,165 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after purchasing an additional 85,396 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in Etsy during the fourth quarter worth about $492,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on ETSY shares. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and dropped their target price for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Loop Capital dropped their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. Moffett Nathanson boosted their target price on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Citigroup lowered their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Cantor Fitzgerald cut their price target on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Etsy currently has a consensus rating of “Hold” and an average price target of $58.78.

Etsy Stock Down 0.3 %

Shares of Etsy stock opened at $46.80 on Monday. Etsy, Inc. has a fifty-two week low of $45.85 and a fifty-two week high of $73.48. The business’s fifty day moving average is $53.17 and its two-hundred day moving average is $53.53. The firm has a market cap of $5.01 billion, a PE ratio of 19.75, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. Equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the sale, the insider now directly owns 20,698 shares of the company’s stock, valued at $1,044,835.04. The trade was a 6.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock worth $1,286,445 in the last three months. Company insiders own 2.60% of the company’s stock.

About Etsy

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.