Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,240 shares of the specialty retailer’s stock after selling 1,987 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Etsy were worth $2,401,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ETSY. Blue Trust Inc. boosted its position in 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 during the last quarter. UMB Bank n.a. lifted its stake in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Etsy in the second quarter valued at approximately $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Etsy in the third quarter valued at approximately $43,000. Finally, Prospera Private Wealth LLC purchased a new position in Etsy during the third quarter worth approximately $59,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were 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 owns 592 shares in the company, valued at approximately $30,257.12. This represents a 70.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the business’s 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 transaction, the insider now owns 24,371 shares in the company, valued at approximately $1,279,477.50. This trade represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,069 shares of company stock valued at $261,888 over the last quarter. 2.60% of the stock is currently owned by insiders.

Etsy Stock Down 1.0 %

ETSY opened at $60.97 on Wednesday. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 6.96 and a beta of 1.99. The business’s 50 day moving average is $53.04 and its two-hundred day moving average is $55.98. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58.

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

Etsy declared that its Board of Directors has authorized a share buyback program on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

ETSY has been the subject of a number of analyst reports. JMP Securities reissued a “market perform” rating on shares of Etsy in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Truist Financial reduced their price target on shares of Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Etsy in a research note on Monday, October 7th. Finally, Citigroup decreased their price target on Etsy from $65.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.17.

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.