Mirae Asset Global Investments Co. Ltd. Sells 3,994 Shares of Etsy, Inc. (NASDAQ:ETSY)

Mirae Asset Global Investments Co. Ltd. cut its holdings in Etsy, Inc. (NASDAQ:ETSY) by 70.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,638 shares of the specialty retailer’s stock after selling 3,994 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Etsy were worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares in the last quarter. UMB Bank n.a. grew its position in shares of Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares during the period. Larson Financial Group LLC increased its stake in shares of Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Etsy during the second quarter worth $42,000. Finally, Headlands Technologies LLC acquired a new stake in Etsy in the first quarter worth $59,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction that occurred 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 owns 592 shares of the company’s stock, valued at $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now owns 18,083 shares in the company, valued at $1,001,798.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,619 shares of company stock worth $240,825 over the last three months. 2.60% of the stock is currently owned by insiders.

Etsy Trading Down 0.9 %

Shares of ETSY opened at $52.27 on Tuesday. The stock has a 50 day moving average of $52.60 and a 200 day moving average of $58.02. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 5.94 and a beta of 1.99. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $89.58.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. As a group, equities research analysts predict that Etsy, Inc. will post 2.3 earnings per share for the current year.

Etsy declared that its board has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

ETSY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a report on Friday. Wolfe Research began coverage on Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Stifel Nicolaus decreased their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 28th. Piper Sandler reiterated a “neutral” rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Finally, Bank of America decreased their price target on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.87.

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.