MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in Etsy, Inc. $ETSY

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Etsy by 33.3% during Q1, owning 67,392 shares valued at approximately $3.18 million.
• Etsy reported a quarterly earnings miss with $0.25 EPS, missing an expectation of $0.54, despite revenue increasing to $672.66 million.
• Recent analyst upgrades have seen price targets for Etsy's stock range from $50.00 to $71.00, with an average rating of "Hold" and a target price of $57.80.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 33.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,392 shares of the specialty retailer's stock after acquiring an additional 16,831 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Etsy worth $3,180,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its stake in Etsy by 1,066.3% in the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock worth $454,000 after buying an additional 8,797 shares in the last quarter. Cooper Financial Group increased its stake in Etsy by 31.3% in the 1st quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer's stock worth $895,000 after buying an additional 4,523 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Etsy in the 1st quarter worth $288,000. Brooklyn FI LLC purchased a new stake in Etsy in the 4th quarter worth $5,229,000. Finally, JBGlobal.com LLC increased its stake in Etsy by 68.2% in the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock worth $606,000 after buying an additional 5,206 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

ETSY has been the subject of a number of analyst reports. Arete upgraded Etsy from a "sell" rating to a "neutral" rating and set a $54.00 price target for the company in a research note on Thursday, August 7th. Raymond James Financial increased their price objective on shares of Etsy from $50.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Citizens Jmp raised shares of Etsy to a "hold" rating in a report on Thursday, July 10th. Needham & Company LLC increased their price objective on shares of Etsy from $55.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company increased their price objective on shares of Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $57.80.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 140,000 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $65.00, for a total transaction of $9,100,000.00. Following the transaction, the chief executive officer directly owned 62,674 shares in the company, valued at approximately $4,073,810. This represents a 69.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 5,817 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $58.83, for a total transaction of $342,214.11. The disclosure for this sale can be found here. Insiders sold a total of 316,482 shares of company stock worth $19,130,691 in the last three months. 2.80% of the stock is owned by insiders.

Etsy Price Performance

Shares of NASDAQ ETSY traded down $1.14 during mid-day trading on Monday, hitting $57.80. 4,722,796 shares of the company's stock traded hands, compared to its average volume of 5,486,503. The company's 50-day moving average is $59.10 and its two-hundred day moving average is $52.56. The company has a market capitalization of $5.73 billion, a P/E ratio of 46.61, a PEG ratio of 3.75 and a beta of 1.77. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.29). The business had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. Equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

About Etsy

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.