Etsy Inc $ETSY Stock: Maryland State Retirement & Pension System Increases Holdings

Maryland State Retirement & Pension System lifted its stake in shares of Etsy Inc (NYSE:ETSY) by 30.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,812 shares of the company’s stock after buying an additional 5,797 shares during the period. Maryland State Retirement & Pension System’s holdings in Etsy were worth $1,774,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Ritholtz Wealth Management acquired a new position in Etsy in the 3rd quarter worth about $697,000. Joel Isaacson & Co. LLC acquired a new stake in shares of Etsy during the third quarter valued at about $506,000. Illinois Municipal Retirement Fund boosted its stake in shares of Etsy by 0.7% during the third quarter. Illinois Municipal Retirement Fund now owns 124,285 shares of the company’s stock valued at $8,885,000 after purchasing an additional 859 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of Etsy during the third quarter valued at about $286,000. Finally, AlphaCore Capital LLC grew its holdings in shares of Etsy by 26.7% during the third quarter. AlphaCore Capital LLC now owns 4,652 shares of the company’s stock worth $333,000 after purchasing an additional 980 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Etsy

In other Etsy news, Director Marla Blow sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $92.67, for a total transaction of $556,020.00. Following the completion of the transaction, the director owned 7,024 shares in the company, valued at approximately $650,914.08. This trade represents a 46.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Wilson sold 28,527 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $91.39, for a total transaction of $2,607,082.53. Following the transaction, the director owned 400,000 shares of the company’s stock, valued at approximately $36,556,000. The trade was a 6.66% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 134,656 shares of company stock worth $11,765,784. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

ETSY has been the subject of several recent research reports. Needham & Company LLC upped their price objective on Etsy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Jefferies Financial Group lifted their target price on shares of Etsy from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. Oppenheimer raised shares of Etsy from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a report on Tuesday, September 15th. BTIG Research boosted their target price on shares of Etsy from $90.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Finally, Seaport Research Partners upgraded shares of Etsy to a “buy” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $94.07.

Etsy Stock Performance

Shares of ETSY stock traded up $0.74 on Friday, hitting $89.03. The company had a trading volume of 1,772,410 shares, compared to its average volume of 3,591,680. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $97.85. The firm has a market cap of $7.68 billion, a P/E ratio of 10.51, a P/E/G ratio of 2.48 and a beta of 1.76. The stock’s 50-day moving average is $80.20 and its two-hundred day moving average is $69.67.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $7.31 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $6.55. The company had revenue of $692.47 million for the quarter, compared to analyst estimates of $669.04 million. Etsy had a negative return on equity of 43.65% and a net margin of 34.36%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Equities research analysts predict that Etsy Inc will post 4.31 EPS for the current year.

Etsy Company Profile

Etsy, Inc. operates an online marketplace that connects buyers with independent sellers offering distinctive and creative goods. Its platform features products such as handmade items, vintage goods, craft supplies, clothing, jewelry, home décor and art. Founded in 2005 in Brooklyn, New York, Etsy has grown into a global marketplace serving buyers and sellers in numerous countries. The company’s platform provides sellers with tools to list and promote products, communicate with customers and manage orders, while giving shoppers ways to discover items from small businesses and individual creators.