28,467 Shares in Etsy Inc $ETSY Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in Etsy Inc (NYSE:ETSY) in the second quarter, HoldingsChannel.com reports. The fund bought 28,467 shares of the company’s stock, valued at approximately $2,144,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EFG International AG bought a new stake in shares of Etsy in the fourth quarter worth $33,000. Global Retirement Partners LLC bought a new position in Etsy in the second quarter valued at about $34,000. Blue Trust Inc. lifted its holdings in 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 acquiring an additional 200 shares during the period. Danske Bank A S purchased a new position in Etsy in the third quarter worth about $66,000. Finally, Federation des caisses Desjardins du Quebec boosted its position in 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 purchasing an additional 225 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Stock Down 0.2%

NYSE ETSY opened at $76.39 on Monday. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.97. The company has a market capitalization of $7.25 billion, a P/E ratio of 42.68, a price-to-earnings-growth ratio of 1.91 and a beta of 1.81. The stock’s 50-day moving average price is $81.28 and its 200-day moving average price is $67.46.

Etsy (NYSE:ETSY) last announced 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). The company had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Research analysts anticipate that Etsy Inc will post 3.94 EPS for the current year.

Trending Headlines about Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analyst support and upcoming conference: Etsy has a “Moderate Buy” consensus rating and an average price target of $84.68, while Morgan Stanley recently upgraded the stock to “outperform.” Management will also participate in the Goldman Sachs Communacopia and Technology Conference on September 9, giving investors an opportunity to hear updates on marketplace trends, growth initiatives and the outlook. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Post-earnings estimates are the next focus: About 30 days after its latest report, investors are watching whether earnings estimates can improve enough to support a rebound. Etsy exceeded revenue expectations with $668.31 million, compared with the $646.10 million consensus, but revenue declined 0.7% year over year and reported EPS of negative $0.49 missed the $0.75 estimate by a wide margin. Analysts currently expect approximately $3.94 in full-year EPS. Etsy Down Since Last Earnings Report
• Negative Sentiment: Insider selling may weigh on sentiment: Executives and directors disclosed sales totaling roughly 36,280 shares, including CEO Josh Silverman’s sales, director Frederick Wilson’s 20,000-share sale and Richard Colburn’s sale to cover tax withholding. Most transactions were made under pre-arranged Rule 10b5-1 plans, and the insiders retained sizable positions, reducing their value as a direct bearish signal; nevertheless, the cluster of sales creates near-term selling pressure and may raise investor concerns. Etsy Insider Selling Report

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Seaport Research Partners raised shares of Etsy to a “buy” rating in a research report on Thursday, August 20th. Wedbush assumed coverage on shares of Etsy in a report on Thursday, July 16th. They issued a “neutral” rating and a $80.00 price objective on the stock. Truist Financial boosted their target price on shares of Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley raised shares of Etsy from an “underweight” rating to an “outperform” rating in a report on Thursday, August 20th. Finally, B. Riley Financial increased their price target on shares of Etsy from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.68.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 97,389 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the sale, the insider directly owned 130,694 shares in the company, valued at $10,324,826. This trade represents a 42.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the sale, the director owned 441,329 shares in the company, valued at $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 471,017 shares of company stock worth $36,593,674 in the last ninety days. Insiders own 2.50% of the company’s stock.

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.