Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its position in Etsy, Inc. (NASDAQ:ETSY) by 37.7% in the 2nd quarter, Holdings Channel reports. The fund owned 3,162 shares of the specialty retailer’s stock after selling 1,912 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Etsy were worth $651,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ETSY. Alliancebernstein L.P. increased its holdings in shares of Etsy by 84.9% in the 2nd quarter. Alliancebernstein L.P. now owns 3,658,982 shares of the specialty retailer’s stock valued at $753,165,000 after purchasing an additional 1,679,559 shares in the last quarter. Flossbach Von Storch AG purchased a new position in shares of Etsy in the 2nd quarter valued at about $137,940,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Etsy in the 1st quarter valued at about $114,962,000. ARK Investment Management LLC purchased a new position in Etsy during the 2nd quarter valued at about $72,748,000. Finally, Nikko Asset Management Americas Inc. increased its holdings in Etsy by 78.1% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 539,484 shares of the specialty retailer’s stock valued at $111,997,000 after acquiring an additional 236,522 shares in the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.

Several equities analysts have weighed in on ETSY shares. Zacks Investment Research upgraded shares of Etsy from a “sell” rating to a “hold” rating and set a $190.00 target price for the company in a report on Monday, August 9th. Atlantic Securities started coverage on shares of Etsy in a report on Monday, June 7th. They set an “overweight” rating and a $200.00 target price for the company. Truist Securities raised their target price on shares of Etsy from $215.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, June 16th. Roth Capital downgraded shares of Etsy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $245.00 to $180.00 in a report on Thursday, August 5th. Finally, BTIG Research raised their price target on shares of Etsy from $215.00 to $238.00 and gave the stock a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $225.59.

In other Etsy news, insider Goyal Kruti Patel sold 6,800 shares of Etsy stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $200.63, for a total transaction of $1,364,284.00. Following the transaction, the insider now directly owns 39,121 shares of the company’s stock, valued at $7,848,846.23. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Michael T. Fisher sold 8,796 shares of Etsy stock in a transaction that occurred on Friday, July 2nd. The shares were sold at an average price of $197.53, for a total transaction of $1,737,473.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,172 shares of company stock worth $14,033,402. 3.80% of the stock is currently owned by corporate insiders.

ETSY opened at $222.85 on Friday. The company’s 50 day simple moving average is $204.71 and its 200 day simple moving average is $195.47. The company has a debt-to-equity ratio of 4.36, a quick ratio of 6.61 and a current ratio of 6.61. Etsy, Inc. has a 1 year low of $113.01 and a 1 year high of $251.86. The stock has a market capitalization of $28.21 billion, a PE ratio of 64.41, a P/E/G ratio of 3.87 and a beta of 1.62.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.04. The business had revenue of $528.90 million for the quarter, compared to analysts’ expectations of $525.70 million. Etsy had a net margin of 22.45% and a return on equity of 73.54%. The company’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. As a group, sell-side analysts expect that Etsy, Inc. will post 2.94 earnings per share for the current fiscal year.

Etsy Profile

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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