MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Stake in Etsy, Inc. (NASDAQ:ETSY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 46.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,561 shares of the specialty retailer's stock after selling 43,072 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Etsy were worth $2,674,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Merit Financial Group LLC acquired a new stake in Etsy in the 4th quarter valued at about $204,000. Ameritas Advisory Services LLC lifted its position in Etsy by 3.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 16,662 shares of the specialty retailer's stock worth $881,000 after buying an additional 631 shares in the last quarter. Lmcg Investments LLC acquired a new position in Etsy during the fourth quarter worth $1,435,000. JBGlobal.com LLC purchased a new stake in Etsy in the 4th quarter valued at $404,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Etsy by 1,298.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,931 shares of the specialty retailer's stock worth $208,000 after acquiring an additional 3,650 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $28,593.60. This represents a 70.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares of the company's stock, valued at $260,458.20. This trade represents a 81.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,418 shares of company stock valued at $3,601,377 in the last three months. 2.60% of the stock is currently owned by company insiders.

Etsy Stock Up 0.3%

ETSY stock opened at $47.16 on Wednesday. The business has a 50 day moving average price of $45.46 and a 200 day moving average price of $50.83. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.57 and a beta of 1.78. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ETSY. The Goldman Sachs Group lowered their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald raised their target price on Etsy from $42.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Evercore ISI decreased their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $50.14.

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.

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