Mirae Asset Global Investments Co. Ltd. Purchases 17,005 Shares of Etsy, Inc. $ETSY

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 1,309.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,304 shares of the specialty retailer’s stock after acquiring an additional 17,005 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Etsy were worth $1,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Holocene Advisors LP grew its position in Etsy by 697.4% in the 2nd quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer’s stock valued at $268,045,000 after purchasing an additional 4,673,615 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Etsy by 62.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer’s stock valued at $185,197,000 after buying an additional 1,416,772 shares during the last quarter. Norges Bank bought a new stake in shares of Etsy during the second quarter worth about $65,207,000. Artisan Partners Limited Partnership bought a new stake in shares of Etsy during the second quarter worth about $50,033,000. Finally, Assenagon Asset Management S.A. lifted its position in Etsy by 37.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,552,308 shares of the specialty retailer’s stock valued at $103,058,000 after acquiring an additional 424,461 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Etsy Price Performance

Shares of ETSY opened at $52.98 on Thursday. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $76.51. The stock’s fifty day moving average price is $56.69 and its two-hundred day moving average price is $60.41. The firm has a market cap of $5.23 billion, a PE ratio of 42.73, a PEG ratio of 10.65 and a beta of 1.74.

Etsy declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 18th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Etsy news, insider Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $53.26, for a total transaction of $1,153,931.16. Following the completion of the transaction, the insider owned 90,661 shares in the company, valued at $4,828,604.86. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Merilee Buckley sold 5,636 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $58.45, for a total transaction of $329,424.20. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 135,934 shares of company stock worth $7,663,369. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the topic of a number of recent research reports. Barclays raised their target price on Etsy from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Stifel Nicolaus lowered their target price on shares of Etsy from $65.00 to $62.00 and set a “hold” rating for the company in a report on Tuesday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of Etsy from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Citigroup reaffirmed a “buy” rating on shares of Etsy in a report on Tuesday, December 30th. Finally, Canaccord Genuity Group lifted their price target on Etsy from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus target price of $63.72.

About Etsy

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.