Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,000 shares of the specialty retailer’s stock after selling 1,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Etsy were worth $2,501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 248 shares during the last quarter. Heron Bay Capital Management lifted its position in Etsy by 1.3% in the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock valued at $1,072,000 after purchasing an additional 258 shares during the last quarter. True Wealth Design LLC boosted its stake in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 292 shares during the period. GAMMA Investing LLC grew its position in Etsy by 39.4% in the 1st quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer’s stock worth $91,000 after purchasing an additional 545 shares during the last quarter. Finally, Hurley Capital LLC acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the stock a “hold” rating in a research report on Monday, April 14th. Piper Sandler reduced their price target on Etsy from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Arete Research raised Etsy to a “strong sell” rating in a report on Wednesday, June 11th. The Goldman Sachs Group reduced their price objective on shares of Etsy from $35.00 to $31.00 and set a “sell” rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI decreased their target price on shares of Etsy from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $49.91.

Etsy Stock Down 0.3%

Shares of NASDAQ ETSY opened at $57.71 on Tuesday. The stock’s fifty day simple moving average is $52.91 and its 200 day simple moving average is $50.73. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 3.18 and a beta of 1.74. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.81.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. As a group, analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Josh Silverman sold 151,666 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the sale, the chief executive officer owned 107,809 shares in the company, valued at $6,218,423.12. The trade was a 58.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total transaction of $77,040.00. Following the completion of the sale, the insider owned 34,683 shares of the company’s stock, valued at approximately $1,781,318.88. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,298 shares of company stock worth $11,156,039 over the last ninety days. 2.80% of the stock is currently owned by company insiders.

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.