Etsy, Inc. $ETSY Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 168.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,046 shares of the specialty retailer’s stock after acquiring an additional 21,344 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Etsy were worth $2,260,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ETSY. Heritage Wealth Advisors increased its position in Etsy by 476.5% during the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 405 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Etsy during the 2nd quarter worth $35,000. Employees Retirement System of Texas acquired a new stake in shares of Etsy during the 2nd quarter worth $47,000. SJS Investment Consulting Inc. raised its position in shares of Etsy by 12,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock worth $51,000 after buying an additional 756 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new position in Etsy in the third quarter valued at $51,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ETSY shares. Stifel Nicolaus lowered their price target on Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Truist Financial boosted their target price on Etsy from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, February 20th. BNP Paribas Exane assumed coverage on shares of Etsy in a research report on Monday, November 24th. They set a “neutral” rating for the company. Wells Fargo & Company reduced their price target on shares of Etsy from $52.00 to $47.00 and set an “underweight” rating on the stock in a research report on Friday, February 20th. Finally, Canaccord Genuity Group decreased their price objective on shares of Etsy from $80.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus price target of $60.40.

Etsy Stock Up 1.8%

NASDAQ ETSY opened at $55.46 on Thursday. The stock has a market cap of $5.34 billion, a PE ratio of 44.73, a P/E/G ratio of 10.65 and a beta of 1.77. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.51. The business has a 50 day moving average price of $55.62 and a two-hundred day moving average price of $58.94.

Etsy announced that its Board of Directors has initiated a share repurchase program on Thursday, December 18th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy up to 14.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Etsy

In related news, insider Josh Silverman sold 86,666 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $57.46, for a total value of $4,979,828.36. Following the completion of the transaction, the insider owned 90,661 shares of the company’s stock, valued at approximately $5,209,381.06. This represents a 48.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Merilee Buckley sold 5,636 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $58.45, for a total value of $329,424.20. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 114,268 shares of company stock valued at $6,476,588. 2.80% of the stock is currently owned by corporate insiders.

Etsy Company Profile

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.