Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 513 Shares of Etsy, Inc. (NASDAQ:ETSY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,015 shares of the specialty retailer’s stock after selling 513 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Etsy were worth $1,270,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ETSY. DJE Kapital AG bought a new position in Etsy during the 4th quarter worth about $983,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Etsy by 12.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock valued at $59,820,000 after purchasing an additional 122,126 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after buying an additional 411,165 shares during the period. Los Angeles Capital Management LLC bought a new position in Etsy in the fourth quarter worth approximately $492,000. Finally, American Capital Advisory LLC lifted its holdings in Etsy by 1,204,900.0% during the fourth quarter. American Capital Advisory LLC now owns 12,050 shares of the specialty retailer’s stock worth $637,000 after buying an additional 12,049 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. Cantor Fitzgerald lowered their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Truist Financial reduced their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. initiated coverage on shares of Etsy in a research note on Wednesday, March 19th. They issued a “neutral” rating and a $50.00 target price for the company. Finally, Citigroup reduced their price target on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.42.

Etsy Trading Up 4.3 %

Shares of NASDAQ:ETSY opened at $47.82 on Wednesday. Etsy, Inc. has a 12-month low of $43.43 and a 12-month high of $71.72. The business has a 50 day moving average of $51.30 and a two-hundred day moving average of $52.75. The company has a market capitalization of $5.12 billion, a PE ratio of 20.18, a PEG ratio of 2.57 and a beta of 2.23.

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

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now directly 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 sold a total of 24,666 shares of company stock worth $1,286,445 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

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.