Caisse de depot et placement du Quebec Invests $31.08 Million in Etsy Inc $ETSY

Caisse de depot et placement du Quebec purchased a new stake in shares of Etsy Inc (NYSE:ETSY) during the second quarter, Holdings Channel.com reports. The firm purchased 412,581 shares of the company’s stock, valued at approximately $31,080,000.

Several other hedge funds have also made changes to their positions in ETSY. EFG International AG purchased a new position in Etsy during the 4th quarter worth approximately $33,000. Global Retirement Partners LLC purchased a new stake in shares of Etsy in the second quarter valued at $34,000. Blue Trust Inc. lifted its holdings in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Etsy in the third quarter worth $66,000. Finally, Federation des caisses Desjardins du Quebec boosted its position in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In other news, CFO Charles Baker sold 1,564 shares of Etsy stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $85.88, for a total transaction of $134,316.32. Following the completion of the sale, the chief financial officer directly owned 11,357 shares in the company, valued at $975,339.16. The trade was a 12.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 6,294 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.00, for a total value of $528,696.00. Following the completion of the sale, the insider directly owned 249,559 shares of the company’s stock, valued at approximately $20,962,956. The trade was a 2.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 589,467 shares of company stock worth $44,276,956. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ETSY has been the topic of a number of research analyst reports. Susquehanna downgraded Etsy to a “neutral” rating in a report on Thursday, May 21st. Roth Capital started coverage on Etsy in a research report on Thursday, May 21st. They set a “buy” rating for the company. Arete Research set a $76.00 target price on Etsy and gave the company a “buy” rating in a research note on Wednesday, May 20th. Canaccord Genuity Group set a $92.00 target price on Etsy in a report on Thursday, August 6th. Finally, Argus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $84.68.

Etsy Trading Up 1.0%

NYSE ETSY opened at $83.79 on Friday. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97. The firm’s fifty day simple moving average is $80.83 and its 200-day simple moving average is $66.23. The company has a market capitalization of $7.95 billion, a PE ratio of 46.81, a price-to-earnings-growth ratio of 4.01 and a beta of 1.84.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The firm had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. During the same period in the previous year, the business posted $0.25 EPS. Etsy’s revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts predict that Etsy Inc will post 3.94 EPS for the current year.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.