Etsy, Inc. (NASDAQ:ETSY) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its holdings in Etsy, Inc. (NASDAQ:ETSY) by 9.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,197 shares of the specialty retailer’s stock after acquiring an additional 10,652 shares during the period. New York State Teachers Retirement System owned about 0.10% of Etsy worth $6,563,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ETSY. Everence Capital Management Inc. bought a new position in shares of Etsy during the third quarter worth about $834,000. TD Asset Management Inc increased its stake in shares of Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after purchasing an additional 221,275 shares during the period. Diversified Trust Co grew its holdings in Etsy by 11.5% in the 2nd quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock worth $381,000 after buying an additional 668 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Etsy by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after purchasing an additional 16,458 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Etsy by 740.9% in the third quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock valued at $3,082,000 after acquiring an additional 48,900 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Stock Down 0.9 %

Shares of ETSY opened at $52.27 on Tuesday. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58. The stock’s 50-day moving average price is $52.60 and its 200-day moving average price is $58.02. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 5.94 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last released its 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 during the quarter, compared to analysts’ expectations of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. As a group, equities analysts anticipate that Etsy, Inc. will post 2.3 EPS for the current fiscal year.

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

Insider Transactions at Etsy

In other news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Merilee Buckley sold 1,676 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 $85,660.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares in the company, valued at $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,619 shares of company stock valued at $240,825. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ETSY. Deutsche Bank Aktiengesellschaft upped their price objective on Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a report on Friday. Wolfe Research initiated coverage on shares of Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. UBS Group cut their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Stifel Nicolaus decreased their price objective on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, The Goldman Sachs Group lowered shares of Etsy from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $70.00 to $45.00 in a research note on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given 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 $64.87.

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.