Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Etsy, Inc. (NASDAQ:ETSY) by 11.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,440 shares of the specialty retailer’s stock after purchasing an additional 9,750 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Etsy worth $7,979,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ETSY. Bares Capital Management Inc. boosted its position in shares of Etsy by 57.8% in the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock worth $261,143,000 after purchasing an additional 1,480,655 shares in the last quarter. Van ECK Associates Corp lifted its position in Etsy by 40.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after acquiring an additional 1,047,811 shares during the period. Clearbridge Investments LLC lifted its position in Etsy by 69.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after acquiring an additional 950,415 shares during the period. Capital International Investors lifted its position in Etsy by 56.1% during the 1st quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock worth $265,696,000 after acquiring an additional 768,350 shares during the period. Finally, Norges Bank acquired a new stake in Etsy during the 4th quarter worth about $66,556,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company lowered their price target on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Truist Financial reduced their price objective on Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Wedbush decreased their price objective on Etsy from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Piper Sandler boosted their price objective on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, Barclays boosted their price objective on Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.84.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the transaction, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock worth $4,836,827 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Etsy Price Performance

ETSY stock opened at $67.05 on Friday. The business has a 50 day simple moving average of $70.45 and a 200-day simple moving average of $71.27. The firm has a market capitalization of $7.94 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 4.75 and a beta of 2.01. Etsy, Inc. has a 1 year low of $58.20 and a 1 year high of $104.93.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, equities research analysts expect that Etsy, Inc. will post 2.58 EPS for the current year.

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.