Etsy, Inc. $ETSY Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in Etsy, Inc. (NASDAQ:ETSY) by 18.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,396 shares of the specialty retailer’s stock after selling 2,985 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Etsy were worth $672,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ETSY. Signaturefd LLC grew its stake in Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 192 shares during the period. Allworth Financial LP boosted its stake in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 248 shares during the period. SVB Wealth LLC purchased a new position in shares of Etsy during the 1st quarter valued at approximately $36,000. Brooklyn Investment Group raised its stake in 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 buying an additional 699 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Transactions at Etsy

In other Etsy news, CEO Josh Silverman sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $72.50, for a total transaction of $10,875,000.00. Following the transaction, the chief executive officer owned 62,674 shares of the company’s stock, valued at $4,543,865. The trade was a 70.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director M Michele Burns sold 14,464 shares of Etsy stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $62.82, for a total transaction of $908,628.48. Following the completion of the transaction, the director directly owned 19,964 shares of the company’s stock, valued at approximately $1,254,138.48. This trade represents a 42.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 402,667 shares of company stock valued at $26,362,857 in the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Etsy Stock Up 2.2%

ETSY stock opened at $75.55 on Tuesday. The company has a market cap of $7.49 billion, a P/E ratio of 60.92, a price-to-earnings-growth ratio of 10.65 and a beta of 1.85. The business’s fifty day moving average is $64.20 and its 200-day moving average is $57.36. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $76.51.

Etsy (NASDAQ:ETSY) last posted its earnings results 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 negative return on equity of 31.10% and a net margin of 5.78%.The firm had revenue of $672.66 million during the quarter, compared to analyst estimates of $645.16 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ETSY has been the topic of a number of research analyst reports. Weiss Ratings raised Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Cantor Fitzgerald upped their target price on Etsy from $52.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on Etsy from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. UBS Group increased their price objective on Etsy from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Finally, Raymond James Financial raised their price objective on shares of Etsy from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.00.

Etsy Company 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.