Etsy, Inc. $ETSY Stake Raised by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,392 shares of the specialty retailer’s stock after buying an additional 16,831 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Etsy worth $3,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. True Wealth Design LLC increased its stake in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the period. SVB Wealth LLC acquired a new position in shares of Etsy during the first quarter valued at approximately $36,000. Allworth Financial LP increased its stake in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 248 shares during the period. Brooklyn Investment Group increased its stake in shares of Etsy by 842.2% during the first quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 699 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in shares of Etsy during the first quarter valued at approximately $70,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 1.1%

ETSY stock opened at $58.94 on Friday. The firm has a market cap of $5.84 billion, a PE ratio of 47.53, a PEG ratio of 3.80 and a beta of 1.77. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $70.57. The company has a fifty day simple moving average of $59.02 and a 200 day simple moving average of $52.50.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. During the same period in the prior year, the company posted $0.41 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ETSY. Sanford C. Bernstein raised their price objective on shares of Etsy from $45.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, July 17th. Bank of America lifted their price target on shares of Etsy from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Etsy from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Raymond James Financial lifted their price target on shares of Etsy from $50.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Barclays reaffirmed a “positive” rating and issued a $60.00 price objective (up previously from $52.00) on shares of Etsy in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Etsy has an average rating of “Hold” and an average target price of $57.80.

Insider Activity

In other news, Director Marla J. Blow sold 450 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $67.46, for a total transaction of $30,357.00. Following the sale, the director directly owned 9,491 shares of the company’s stock, valued at $640,262.86. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $51.62, for a total transaction of $77,430.00. Following the sale, the insider directly owned 31,683 shares in the company, valued at $1,635,476.46. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 316,482 shares of company stock valued at $19,130,691. Corporate insiders own 2.80% 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.