25,800 Shares in Etsy, Inc. $ETSY Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Etsy, Inc. (NASDAQ:ETSY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 25,800 shares of the specialty retailer’s stock, valued at approximately $1,294,000.

Several other hedge funds also recently bought and sold shares of ETSY. AQR Capital Management LLC boosted its holdings in Etsy by 423.7% in the 1st quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer’s stock worth $218,890,000 after buying an additional 3,768,787 shares during the period. Acadian Asset Management LLC boosted its holdings in Etsy by 112.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer’s stock worth $132,273,000 after buying an additional 1,486,142 shares during the period. Victory Capital Management Inc. boosted its holdings in Etsy by 53.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,248,902 shares of the specialty retailer’s stock worth $58,923,000 after buying an additional 436,231 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Etsy by 140.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 711,454 shares of the specialty retailer’s stock worth $33,566,000 after buying an additional 415,942 shares during the period. Finally, Bank of Nova Scotia bought a new position in Etsy in the 1st quarter worth $19,454,000. Institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ETSY shares. Zacks Research raised shares of Etsy from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Jefferies Financial Group boosted their price target on shares of Etsy from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Cantor Fitzgerald boosted their price target on shares of Etsy from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Citizens Jmp upgraded shares of Etsy to a “hold” rating in a research note on Thursday, July 10th. Finally, Bank of America boosted their price target on shares of Etsy from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.00.

Insider Activity

In other news, Director M Michele Burns sold 14,464 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $62.82, for a total transaction of $908,628.48. Following the sale, the director directly owned 19,964 shares in the company, valued at approximately $1,254,138.48. This represents a 42.01% decrease in their position. The sale was disclosed in a 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 dated Tuesday, September 2nd. The shares were sold at an average price of $51.62, for a total transaction of $77,430.00. Following the sale, the insider owned 31,683 shares in the company, valued at $1,635,476.46. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 402,667 shares of company stock worth $26,362,857. 2.80% of the stock is owned by insiders.

Etsy Trading Up 1.7%

Shares of NASDAQ ETSY opened at $73.16 on Thursday. The firm’s 50-day moving average price is $63.73 and its 200-day moving average price is $56.50. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 59.00, a P/E/G ratio of 10.65 and a beta of 1.85. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.51.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.29). The business had revenue of $672.66 million for the quarter, compared to analysts’ expectations of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

About Etsy

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.