Etsy, Inc. (NASDAQ:ETSY) Stock Holdings Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 50.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,442 shares of the specialty retailer’s stock after purchasing an additional 10,920 shares during the quarter. Teacher Retirement System of Texas’ holdings in Etsy were worth $1,716,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ETSY. Van ECK Associates Corp lifted its position in shares of Etsy by 17.4% during the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Etsy by 12.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after purchasing an additional 188,386 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after purchasing an additional 850,520 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock worth $59,820,000 after purchasing an additional 122,126 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Etsy in the 3rd quarter worth about $55,530,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Trading Up 0.5 %

Shares of Etsy stock opened at $46.92 on Friday. The firm has a fifty day simple moving average of $51.05 and a 200-day simple moving average of $52.67. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 1-year low of $43.43 and a 1-year high of $71.72.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ETSY. Canaccord Genuity Group decreased their target price on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Cantor Fitzgerald reduced their target price on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. started coverage on Etsy in a report on Wednesday, March 19th. They set a “neutral” rating and a $50.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.42.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now owns 20,698 shares in the company, valued at approximately $1,044,835.04. This trade represents a 6.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock valued at $1,286,445 in the last 90 days. 2.60% of the stock is currently owned by insiders.

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.