Pacer Advisors Inc. Has $31.99 Million Position in Etsy, Inc. $ETSY

Pacer Advisors Inc. lessened its holdings in Etsy, Inc. (NASDAQ:ETSY) by 52.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 481,897 shares of the specialty retailer’s stock after selling 532,307 shares during the period. Pacer Advisors Inc. owned approximately 0.49% of Etsy worth $31,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Optas LLC grew its stake in shares of Etsy by 16.5% in the 3rd quarter. Optas LLC now owns 4,781 shares of the specialty retailer’s stock valued at $317,000 after purchasing an additional 676 shares during the period. Wynn Capital LLC bought a new stake in Etsy in the third quarter valued at $222,000. Assenagon Asset Management S.A. raised its stake in Etsy by 37.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,552,308 shares of the specialty retailer’s stock worth $103,058,000 after acquiring an additional 424,461 shares in the last quarter. Oak Thistle LLC raised its stake in Etsy by 284.7% during the third quarter. Oak Thistle LLC now owns 34,705 shares of the specialty retailer’s stock worth $2,304,000 after acquiring an additional 25,683 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of Etsy by 216.9% during the third quarter. Aaron Wealth Advisors LLC now owns 15,941 shares of the specialty retailer’s stock valued at $1,058,000 after acquiring an additional 10,910 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

Shares of Etsy stock opened at $55.79 on Friday. The firm has a 50 day simple moving average of $58.46 and a 200 day simple moving average of $59.72. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.51. The firm has a market cap of $5.51 billion, a P/E ratio of 44.99, a P/E/G ratio of 10.65 and a beta of 1.76.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The firm had revenue of $678.03 million for the quarter, compared to the consensus estimate of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. On average, sell-side analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating on shares of Etsy in a research report on Wednesday, October 29th. Morgan Stanley upped their price objective on shares of Etsy from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $64.00 target price on shares of Etsy in a research note on Thursday, October 30th. BNP Paribas Exane initiated coverage on Etsy in a report on Monday, November 24th. They issued a “neutral” rating on the stock. Finally, Evercore ISI cut Etsy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average price target of $64.52.

Insider Transactions at Etsy

In other news, insider Richard Edward Colburn III sold 3,200 shares of Etsy stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $57.80, for a total transaction of $184,960.00. Following the completion of the sale, the insider owned 4,387 shares in the company, valued at $253,568.60. The trade was a 42.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Goyal Kruti Patel sold 7,685 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $75.01, for a total transaction of $576,451.85. Following the sale, the insider directly owned 54,840 shares of the company’s stock, valued at approximately $4,113,548.40. This trade represents a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 241,105 shares of company stock valued at $16,594,854. 2.80% of the stock is currently owned by 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.