Maryland State Retirement & Pension System Sells 868 Shares of Etsy, Inc. (NASDAQ:ETSY)

Maryland State Retirement & Pension System decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,542 shares of the specialty retailer’s stock after selling 868 shares during the period. Maryland State Retirement & Pension System’s holdings in Etsy were worth $2,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC raised its stake in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Etsy during the fourth quarter valued at approximately $38,000. Versant Capital Management Inc boosted its position in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after buying an additional 499 shares during the period. Blue Trust Inc. boosted its position in shares of Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 426 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in shares of Etsy during the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Canaccord Genuity Group dropped their target price on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Citigroup dropped their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. JMP Securities restated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Morgan Stanley dropped their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Finally, Moffett Nathanson boosted their price target on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.42.

Etsy Trading Up 0.5 %

Shares of ETSY stock opened at $44.93 on Friday. The business’s fifty day simple moving average is $51.72 and its 200-day simple moving average is $52.96. The company has a market cap of $4.81 billion, a PE ratio of 18.96, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 12-month low of $43.43 and a 12-month high of $71.72.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, 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 a total of 24,666 shares of company stock valued at $1,286,445 in the last ninety days. Company insiders own 2.60% of the company’s stock.

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.