Etsy, Inc. (NASDAQ:ETSY) Stock Holdings Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in Etsy, Inc. (NASDAQ:ETSY) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 116,297 shares of the specialty retailer’s stock after selling 1,900 shares during the period. New York State Teachers Retirement System owned 0.10% of Etsy worth $6,151,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ETSY. Banque Pictet & Cie SA lifted its stake in shares of Etsy by 0.4% in the 4th quarter. Banque Pictet & Cie SA now owns 137,790 shares of the specialty retailer’s stock worth $7,288,000 after acquiring an additional 497 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Etsy by 2.6% during the fourth quarter. Vontobel Holding Ltd. now owns 70,083 shares of the specialty retailer’s stock valued at $3,707,000 after acquiring an additional 1,777 shares during the period. Van ECK Associates Corp increased its stake in Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after buying an additional 522,111 shares during the period. Bristlecone Advisors LLC increased its stake in Etsy by 164.7% in the 4th quarter. Bristlecone Advisors LLC now owns 21,489 shares of the specialty retailer’s stock valued at $1,137,000 after buying an additional 13,370 shares during the period. Finally, Savant Capital LLC acquired a new position in Etsy in the 4th quarter valued at approximately $1,284,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

Etsy stock opened at $51.53 on Thursday. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $78.65. The firm has a 50 day moving average price of $54.73 and a two-hundred day moving average price of $53.83. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.83 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. The firm had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS. As a group, equities research analysts predict that Etsy, Inc. will post 2.25 EPS for the current fiscal year.

Etsy declared that its board has initiated a share buyback program on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of recent research reports. JMP Securities restated a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Bank of America decreased their price target on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and decreased their target price for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Stifel Nicolaus decreased their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Morgan Stanley cut their price target on shares of Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.21.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently 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.