Utah Retirement Systems Sells 500 Shares of Etsy, Inc. (NASDAQ:ETSY)

Utah Retirement Systems decreased its stake in Etsy, Inc. (NASDAQ:ETSY) by 2.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,692 shares of the specialty retailer’s stock after selling 500 shares during the quarter. Utah Retirement Systems’ holdings in Etsy were worth $989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ETSY. DJE Kapital AG acquired a new position in shares of Etsy during the 4th quarter worth approximately $983,000. Charles Schwab Investment Management Inc. increased its holdings in Etsy by 12.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock worth $59,820,000 after buying an additional 122,126 shares during the last quarter. Principal Financial Group Inc. raised its position in Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after acquiring an additional 411,165 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Etsy in the fourth quarter valued at $492,000. Finally, Natixis Advisors LLC bought a new position in shares of Etsy in the 4th quarter valued at about $606,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ETSY shares. Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Etsy from $50.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Evercore ISI cut their price target on Etsy from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday. Cantor Fitzgerald upped their price objective on shares of Etsy from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on shares of Etsy from $46.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and a consensus price target of $50.14.

Etsy Stock Up 4.2 %

Shares of Etsy stock opened at $44.30 on Friday. The firm’s 50-day moving average price is $45.88 and its two-hundred day moving average price is $51.11. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.93.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. During the same period last year, the business earned $0.48 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Transactions at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $28,593.60. This trade represents a 70.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,952 shares of company stock valued at $2,554,620. Corporate insiders own 2.60% of the company’s stock.

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.