Pacer Advisors Inc. Sells 227,167 Shares of Etsy, Inc. (NASDAQ:ETSY)

Pacer Advisors Inc. lessened its position in Etsy, Inc. (NASDAQ:ETSY) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,734,785 shares of the specialty retailer’s stock after selling 227,167 shares during the quarter. Pacer Advisors Inc. owned 5.10% of Etsy worth $303,313,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in shares of Etsy by 1,298.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,931 shares of the specialty retailer’s stock valued at $208,000 after purchasing an additional 3,650 shares during the period. JBGlobal.com LLC purchased a new stake in Etsy in the 4th quarter valued at about $404,000. Lmcg Investments LLC bought a new position in Etsy in the 4th quarter worth about $1,435,000. Ameritas Advisory Services LLC increased its position in shares of Etsy by 3.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 16,662 shares of the specialty retailer’s stock worth $881,000 after acquiring an additional 631 shares during the period. Finally, Merit Financial Group LLC bought a new stake in shares of Etsy during the fourth quarter valued at approximately $204,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $52.50, for a total transaction of $39,375.00. Following the sale, the insider now directly owns 24,371 shares of the company’s stock, valued at approximately $1,279,477.50. This trade represents a 2.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on ETSY shares. Truist Financial reduced their price objective on Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. UBS Group decreased their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Citigroup dropped their target price on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus lowered their price target on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus price target of $62.54.

Etsy Price Performance

NASDAQ ETSY opened at $52.23 on Monday. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.55 and a beta of 1.99. The stock’s fifty day moving average price is $54.82 and its 200 day moving average price is $54.69. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $80.30.

Etsy (NASDAQ:ETSY) last announced 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 firm had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts expect that Etsy, Inc. will post 2.26 earnings per share for the current year.

Etsy declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

About Etsy

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.