Etsy, Inc. (NASDAQ:ETSY) Stake Boosted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its stake in Etsy, Inc. (NASDAQ:ETSY) by 17.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,259 shares of the specialty retailer’s stock after acquiring an additional 2,502 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Etsy were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after buying an additional 721,454 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after purchasing an additional 734,200 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after purchasing an additional 721,453 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Etsy by 304.2% in the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after purchasing an additional 1,055,296 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Etsy by 76.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock valued at $69,685,000 after purchasing an additional 517,480 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Price Performance

ETSY opened at $54.78 on Wednesday. The stock has a 50-day moving average price of $52.00 and a 200-day moving average price of $56.54. The firm has a market cap of $6.16 billion, a PE ratio of 27.95, a P/E/G ratio of 6.17 and a beta of 1.99. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.25 EPS for the current year.

Etsy announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,819 shares of company stock worth $303,438. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on ETSY shares. Loop Capital reduced their price target on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Wedbush decreased their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Bank of America lowered their price target on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. UBS Group reduced their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $64.71.

Etsy Company Profile

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.