Pacer Advisors Inc. Has $331.07 Million Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Pacer Advisors Inc. boosted its position in Etsy, Inc. (NASDAQ:ETSY) by 183.9% during the 3rd quarter, Holdings Channel reports. The fund owned 5,961,952 shares of the specialty retailer’s stock after buying an additional 3,861,668 shares during the period. Pacer Advisors Inc. owned approximately 0.05% of Etsy worth $331,067,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ETSY. Blue Trust Inc. increased its position in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 231 shares in the last quarter. UMB Bank n.a. boosted its stake in Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Etsy during the 2nd quarter worth approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Etsy in the third quarter worth approximately $43,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Etsy in the third quarter valued at approximately $59,000. Institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ETSY shares. Wells Fargo & Company decreased their price target on Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group lowered shares of Etsy from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $70.00 to $45.00 in a research note on Tuesday, October 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Etsy in a research report on Monday, October 7th. Barclays reduced their price objective on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Bank of America dropped their target price on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.87.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 70.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,369 shares of company stock worth $280,200. 2.60% of the stock is owned by company insiders.

Etsy Stock Up 0.9 %

NASDAQ ETSY opened at $50.86 on Thursday. The firm has a market cap of $5.72 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 5.95 and a beta of 1.99. The company’s 50 day moving average is $52.03 and its 200-day moving average is $56.78. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last released 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). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts expect that Etsy, Inc. will post 2.25 EPS for the current year.

Etsy declared that its board has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Etsy 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.