Etsy, Inc. (NASDAQ:ETSY) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Etsy, Inc. (NASDAQ:ETSY) by 37.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 44,772 shares of the specialty retailer’s stock after selling 26,759 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Etsy were worth $2,641,000 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. Norges Bank purchased a new position in shares of Etsy during the 4th quarter worth approximately $86,494,000. TD Asset Management Inc grew its holdings in Etsy by 260.2% during the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after acquiring an additional 952,907 shares during the period. Van ECK Associates Corp raised its position in Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after acquiring an additional 721,454 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in Etsy by 84.4% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock valued at $106,136,000 after acquiring an additional 599,286 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in shares of Etsy by 120.7% during the 1st quarter. DAVENPORT & Co LLC now owns 789,917 shares of the specialty retailer’s stock worth $54,021,000 after purchasing an additional 431,993 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Wedbush reiterated a “neutral” rating and set a $65.00 price target on shares of Etsy in a research report on Monday, July 22nd. Truist Financial dropped their price objective on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Loop Capital decreased their target price on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Finally, Piper Sandler reissued a “neutral” rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $70.61.

Etsy Trading Down 0.2 %

Shares of NASDAQ:ETSY opened at $54.00 on Thursday. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 5.10 and a beta of 1.98. The stock’s 50-day moving average price is $56.96 and its two-hundred day moving average price is $61.73. Etsy, Inc. has a 12-month low of $50.63 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same period in the prior year, the business posted $0.83 earnings per share. Etsy’s revenue was up 3.0% on a year-over-year basis. As a group, research analysts forecast that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 2,000 shares of company stock worth $116,395 in the last quarter. 2.60% of the stock is owned by insiders.

Etsy 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.