Ameritas Advisory Services LLC Sells 16,208 Shares of Etsy, Inc. $ETSY

Ameritas Advisory Services LLC decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 87.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,260 shares of the specialty retailer’s stock after selling 16,208 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Etsy were worth $150,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC bought a new position in Etsy in the third quarter valued at approximately $51,000. Assetmark Inc. raised its holdings in shares of Etsy by 2.6% during the third quarter. Assetmark Inc. now owns 30,282 shares of the specialty retailer’s stock worth $2,010,000 after acquiring an additional 766 shares during the period. Public Sector Pension Investment Board lifted its position in Etsy by 21.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 430,824 shares of the specialty retailer’s stock valued at $28,602,000 after acquiring an additional 75,295 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in Etsy by 39.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 63,577 shares of the specialty retailer’s stock valued at $4,221,000 after acquiring an additional 17,831 shares in the last quarter. Finally, LSV Asset Management acquired a new position in Etsy in the 3rd quarter worth $86,000. Institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, insider Josh Silverman sold 86,666 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $57.46, for a total value of $4,979,828.36. Following the transaction, the insider owned 90,661 shares in the company, valued at $5,209,381.06. The trade was a 48.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Merilee Buckley sold 5,636 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $58.45, for a total value of $329,424.20. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 135,934 shares of company stock valued at $7,663,369. Corporate insiders own 2.80% of the company’s stock.

Etsy Trading Down 3.0%

NASDAQ ETSY opened at $44.34 on Wednesday. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 10.65 and a beta of 1.77. The company has a 50 day moving average of $55.97 and a 200-day moving average of $59.68. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $76.51.

Etsy announced that its Board of Directors has approved a share buyback plan on Thursday, December 18th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the specialty retailer to buy up to 14.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ETSY shares. Barclays upped their price target on Etsy from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. BNP Paribas Exane began coverage on shares of Etsy in a report on Monday, November 24th. They set a “neutral” rating for the company. Needham & Company LLC lifted their price target on shares of Etsy from $72.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. BTIG Research cut their price target on shares of Etsy from $81.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, December 30th. Finally, Moffett Nathanson restated a “neutral” rating on shares of Etsy in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.52.

About Etsy

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.