Mirae Asset Global Investments Co. Ltd. Sells 33,363 Shares of Etsy, Inc. (NASDAQ:ETSY)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of Etsy, Inc. (NASDAQ:ETSYFree Report) by 33.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 65,077 shares of the specialty retailer’s stock after selling 33,363 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of Etsy worth $4,472,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Etsy during the 4th quarter worth about $86,494,000. Van ECK Associates Corp lifted its stake in shares of Etsy by 26.5% in the fourth quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after acquiring an additional 967,777 shares during the period. TD Asset Management Inc boosted its holdings in Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after acquiring an additional 952,907 shares during the last quarter. Epoch Investment Partners Inc. increased its position in Etsy by 84.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock valued at $106,136,000 after purchasing an additional 599,286 shares during the period. Finally, National Bank of Canada FI raised its holdings in Etsy by 313.1% during the 4th quarter. National Bank of Canada FI now owns 480,554 shares of the specialty retailer’s stock worth $38,963,000 after purchasing an additional 364,219 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Trading Up 0.5 %

Shares of NASDAQ ETSY opened at $57.32 on Thursday. The business has a 50-day moving average of $61.25 and a 200-day moving average of $67.79. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 4.51 and a beta of 2.02. Etsy, Inc. has a 12 month low of $55.08 and a 12 month high of $102.81.

Etsy (NASDAQ:ETSYGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same period in the prior year, the firm earned $0.53 EPS. Etsy’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Etsy, Inc. will post 2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wedbush decreased their price objective on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. B. Riley dropped their price objective on shares of Etsy from $91.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC cut their target price on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, June 25th. Finally, Morgan Stanley decreased their target price on Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.88.

Get Our Latest Research Report on ETSY

Insider Buying and Selling

In other news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Etsy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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