Mirae Asset Global Investments Co. Ltd. Makes New $1.27 Million Investment in Etsy Inc $ETSY

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Etsy Inc (NYSE:ETSY) during the 3rd quarter, Holdings Channel.com reports. The firm bought 17,771 shares of the company’s stock, valued at approximately $1,270,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in Etsy in the 2nd quarter valued at $34,000. EFG International AG purchased a new position in Etsy in the second quarter valued at about $45,000. Signaturefd LLC raised its position in Etsy by 61.8% in the third quarter. Signaturefd LLC now owns 762 shares of the company’s stock valued at $54,000 after purchasing an additional 291 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Etsy by 2,379.1% during the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock worth $80,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Etsy during the second quarter worth about $105,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Seaport Research Partners raised Etsy to a “buy” rating in a research report on Thursday, August 20th. Needham & Company LLC raised their target price on Etsy from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Evercore set a $83.00 price objective on shares of Etsy in a research report on Thursday, August 6th. Citigroup increased their price objective on shares of Etsy from $92.00 to $101.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Finally, Weiss Ratings upgraded shares of Etsy from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.07.

Etsy Stock Performance

Shares of NYSE ETSY opened at $90.08 on Friday. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $97.85. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.53 and a beta of 1.76. The stock’s 50-day simple moving average is $79.61 and its 200-day simple moving average is $68.98.

Etsy (NYSE:ETSY) last released its quarterly earnings results on Wednesday, October 28th. The company reported $7.31 EPS for the quarter, topping the consensus estimate of $0.76 by $6.55. The business had revenue of $692.47 million for the quarter, compared to analysts’ expectations of $669.04 million. Etsy had a negative return on equity of 43.65% and a net margin of 34.36%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. As a group, research analysts predict that Etsy Inc will post 4.31 EPS for the current year.

Insider Activity at Etsy

In other Etsy news, insider Josh Silverman sold 41,500 shares of Etsy stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $92.13, for a total transaction of $3,823,395.00. Following the sale, the insider directly owned 221,117 shares in the company, valued at $20,371,509.21. The trade was a 15.80% 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, CAO Merilee Buckley sold 5,076 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $90.00, for a total value of $456,840.00. Following the completion of the transaction, the chief accounting officer directly owned 5,076 shares in the company, valued at approximately $456,840. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 142,908 shares of company stock worth $12,443,190 over the last ninety days. Company insiders own 2.50% of the company’s stock.

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.