Etsy Inc $ETSY Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a new Etsy position, buying 17,771 shares valued at approximately $1.27 million in the third quarter. Institutional investors collectively own 99.53% of Etsy’s shares.
• Etsy’s latest quarterly results exceeded estimates: revenue rose 10.9% year over year to $692.47 million, and reported EPS of $7.31 topped the $0.76 consensus forecast.
• Analysts’ consensus rating is Hold, with an average price target of $94.07. Meanwhile, insiders sold 142,908 shares worth about $12.44 million over the past 90 days.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Etsy Inc (NYSE:ETSY - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,771 shares of the company's stock, valued at approximately $1,270,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company's stock valued at $297,991,000 after buying an additional 594,768 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company's stock worth $163,841,000 after acquiring an additional 1,112,520 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Etsy by 48.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company's stock worth $121,532,000 after acquiring an additional 523,092 shares during the period. William Blair Investment Management LLC purchased a new stake in Etsy in the 2nd quarter worth approximately $120,417,000. Finally, Dimensional Fund Advisors LP grew its stake in Etsy by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company's stock worth $78,642,000 after acquiring an additional 100,542 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Etsy

In related news, insider Josh Silverman sold 41,500 shares of Etsy stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $92.13, for a total value of $3,823,395.00. Following the transaction, the insider owned 221,117 shares in the company, valued at approximately $20,371,509.21. This trade represents a 15.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marla Blow sold 6,000 shares of the business's stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $92.67, for a total value of $556,020.00. Following the sale, the director directly owned 7,024 shares of the company's stock, valued at approximately $650,914.08. This trade represents a 46.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 142,908 shares of company stock valued at $12,443,190 in the last ninety days. Company insiders own 2.50% of the company's stock.

Etsy Stock Performance

Shares of ETSY stock opened at $90.08 on Friday. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 2.53 and a beta of 1.76. Etsy Inc has a one year low of $44.00 and a one year high of $97.85. The company has a 50 day moving average price of $79.61 and a 200 day moving average price of $68.98.

Etsy (NYSE:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $7.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $6.55. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The company had revenue of $692.47 million for the quarter, compared to analyst estimates of $669.04 million. During the same quarter last year, the business earned $0.63 EPS. Etsy's revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that Etsy Inc will post 4.31 EPS for the current fiscal year.

Analysts Set New Price Targets

ETSY has been the topic of a number of recent analyst reports. B. Riley Financial increased their price target on Etsy from $82.00 to $87.00 and gave the stock a "neutral" rating in a research note on Thursday, October 29th. Barclays lifted their price objective on Etsy from $94.00 to $110.00 and gave the company an "overweight" rating in a research report on Thursday, October 29th. Guggenheim lifted their price objective on Etsy from $95.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. Piper Sandler upped their target price on Etsy from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, Wedbush increased their target price on Etsy from $88.00 to $99.00 and gave the stock a "neutral" rating in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $94.07.

Etsy Profile

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.

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