New York State Teachers Retirement System Sells 1,500 Shares of Etsy, Inc. $ETSY

New York State Teachers Retirement System reduced its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,597 shares of the specialty retailer’s stock after selling 1,500 shares during the period. New York State Teachers Retirement System owned about 0.10% of Etsy worth $5,397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ETSY. Vanguard Personalized Indexing Management LLC purchased a new position in Etsy during the second quarter valued at $262,000. Lmcg Investments LLC lifted its position in Etsy by 56.0% during the second quarter. Lmcg Investments LLC now owns 66,119 shares of the specialty retailer’s stock valued at $3,317,000 after purchasing an additional 23,733 shares during the last quarter. Blue Trust Inc. lifted its position in Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock valued at $58,000 after purchasing an additional 181 shares during the last quarter. IFP Advisors Inc lifted its position in Etsy by 21.6% during the second quarter. IFP Advisors Inc now owns 4,001 shares of the specialty retailer’s stock valued at $201,000 after purchasing an additional 712 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in Etsy by 1.7% during the second quarter. Vontobel Holding Ltd. now owns 40,523 shares of the specialty retailer’s stock valued at $2,033,000 after purchasing an additional 667 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Etsy

In other news, Director M Michele Burns sold 14,464 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $62.82, for a total value of $908,628.48. Following the completion of the sale, the director owned 19,964 shares in the company, valued at approximately $1,254,138.48. The trade was a 42.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Goyal Kruti Patel sold 7,685 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $576,451.85. Following the completion of the sale, the insider owned 54,840 shares of the company’s stock, valued at approximately $4,113,548.40. This represents a 12.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 542,667 shares of company stock worth $35,462,857 over the last ninety days. 2.80% of the stock is currently owned by company insiders.

Etsy Trading Up 1.2%

ETSY stock opened at $71.32 on Tuesday. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The company has a 50-day moving average price of $63.56 and a 200 day moving average price of $56.27. The stock has a market cap of $7.07 billion, a PE ratio of 57.52, a P/E/G ratio of 10.65 and a beta of 1.85.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Guggenheim reiterated a “buy” rating and set a $70.00 price objective on shares of Etsy in a research report on Thursday, September 18th. Sanford C. Bernstein increased their price objective on shares of Etsy from $45.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Needham & Company LLC increased their price objective on shares of Etsy from $55.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Cantor Fitzgerald lifted 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. Finally, Weiss Ratings raised shares of Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.50.

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.