Etsy, Inc. (NASDAQ:ETSY) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 46.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 50,561 shares of the specialty retailer’s stock after selling 43,072 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Etsy were worth $2,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Etsy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock worth $651,056,000 after acquiring an additional 56,772 shares during the last quarter. Renaissance Technologies LLC increased its position in Etsy by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer’s stock worth $286,751,000 after purchasing an additional 235,550 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after buying an additional 522,111 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after purchasing an additional 188,386 shares in the last quarter. Finally, Norges Bank acquired a new position in Etsy during the fourth quarter valued at approximately $74,235,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Up 0.3%

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

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ETSY shares. Barclays cut their target price on shares of Etsy from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. Canaccord Genuity Group lowered their price target on Etsy from $76.00 to $72.00 and set a “buy” rating for the company in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the stock a “hold” rating in a research note on Monday, April 14th. The Goldman Sachs Group lowered their target price on Etsy from $35.00 to $31.00 and set a “sell” rating for the company in a research note on Thursday, May 1st. Finally, UBS Group dropped their target price on Etsy from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.14.

Insiders Place Their Bets

In other news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. Insiders have sold 75,418 shares of company stock valued at $3,601,377 over the last three months. Company insiders own 2.60% of the company’s stock.

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.