Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its position in Etsy, Inc. (NASDAQ:ETSY) by 4.4% during the 3rd quarter, Holdings Channel reports. The firm owned 43,240 shares of the specialty retailer’s stock after selling 1,987 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Etsy were worth $2,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its holdings in Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Etsy during the 2nd quarter worth about $42,000. Capital Performance Advisors LLP acquired a new position in Etsy in the 3rd quarter valued at about $43,000. Finally, Prospera Private Wealth LLC purchased a new position in Etsy in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.15, for a total value of $39,862.50. Following the sale, the insider now directly owns 25,121 shares of the company’s stock, valued at $1,335,181.15. This represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,069 shares of company stock valued at $261,888. Insiders own 2.60% of the company’s stock.

Etsy Stock Down 1.0 %

Shares of NASDAQ:ETSY opened at $60.97 on Wednesday. The company has a 50 day moving average of $53.04 and a two-hundred day moving average of $55.98. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $89.58. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 6.96 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. On average, equities analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ETSY. Wedbush cut their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Etsy in a report on Thursday, October 31st. UBS Group decreased their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Barclays dropped their target price on Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Truist Financial decreased their price target on Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.17.

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.