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

Mutual of America Capital Management LLC trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,046 shares of the specialty retailer’s stock after selling 1,184 shares during the period. Mutual of America Capital Management LLC’s holdings in Etsy were worth $1,301,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ETSY. Bares Capital Management Inc. increased its holdings in shares of Etsy by 57.8% in the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after acquiring an additional 1,480,655 shares during the last quarter. Van ECK Associates Corp raised its holdings in Etsy by 40.3% during the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after purchasing an additional 1,047,811 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Etsy by 201.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 579,791 shares of the specialty retailer’s stock worth $37,291,000 after buying an additional 387,467 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Etsy by 107.4% in the 3rd quarter. Epoch Investment Partners Inc. now owns 710,224 shares of the specialty retailer’s stock valued at $45,866,000 after buying an additional 367,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Etsy by 46.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,115,605 shares of the specialty retailer’s stock valued at $72,046,000 after buying an additional 352,255 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Trading Down 0.5 %

ETSY stock opened at $66.45 on Tuesday. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 4.64 and a beta of 2.01. The firm has a 50 day moving average of $69.42 and a 200-day moving average of $71.49. Etsy, Inc. has a 12-month low of $58.20 and a 12-month high of $103.25.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The company had revenue of $842.32 million for the quarter, compared to the consensus estimate of $827.40 million. Sell-side analysts forecast that Etsy, Inc. will post 2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. BTIG Research reduced their price objective on Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 target price on shares of Etsy in a report on Friday, March 1st. Morgan Stanley reiterated an “underweight” rating and set a $55.00 price target (down previously from $65.00) on shares of Etsy in a research note on Thursday, April 18th. Finally, Barclays lifted their price objective on shares of Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.88.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,968 shares of company stock valued at $4,836,827. Insiders own 2.60% of the company’s stock.

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.