412,581 Shares in Etsy Inc $ETSY Purchased by Caisse de depot et placement du Quebec

Key Points

• Caisse de dépôt et placement du Québec purchased 412,581 Etsy shares worth approximately $31.1 million, representing about 0.43% of the company. Institutional investors collectively own 99.53% of Etsy.
• Etsy reported quarterly revenue of $668.3 million, above estimates, but posted adjusted EPS of negative $0.49 versus expectations of $0.75; revenue declined 0.7% year over year.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $84.68. Etsy shares recently opened at $83.79, while insiders sold roughly $44.3 million of stock over the past quarter.

Caisse de depot et placement du Quebec bought a new stake in Etsy Inc (NYSE:ETSY - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 412,581 shares of the company's stock, valued at approximately $31,080,000. Caisse de depot et placement du Quebec owned approximately 0.43% of Etsy as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. EFG International AG bought a new stake in shares of Etsy during the 4th quarter worth about $33,000. Global Retirement Partners LLC bought a new position in shares of Etsy in the second quarter valued at approximately $34,000. Blue Trust Inc. boosted its holdings in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after acquiring an additional 200 shares in the last quarter. Danske Bank A S acquired a new position in shares of Etsy during the third quarter valued at approximately $66,000. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock valued at $67,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Price Performance

ETSY stock opened at $83.79 on Friday. The firm has a market cap of $7.95 billion, a PE ratio of 46.81, a P/E/G ratio of 4.01 and a beta of 1.84. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.97. The firm has a 50 day simple moving average of $80.83 and a 200 day simple moving average of $66.23.

Etsy (NYSE:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. As a group, sell-side analysts expect that Etsy Inc will post 3.94 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ETSY shares. President Capital raised Etsy from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $57.00 to $91.00 in a report on Thursday, June 25th. UBS Group increased their price target on Etsy from $74.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Wall Street Zen downgraded Etsy from a "buy" rating to a "hold" rating in a research note on Sunday, May 31st. Guggenheim upped their price objective on Etsy from $85.00 to $95.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, Argus upgraded Etsy from a "hold" rating to a "buy" rating and set a $67.00 price objective for the company in a report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $84.68.

Insider Buying and Selling at Etsy

In other news, insider Richard Edward Colburn III sold 8,252 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $82.09, for a total transaction of $677,406.68. Following the sale, the insider directly owned 6,503 shares of the company's stock, valued at $533,831.27. The trade was a 55.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Merilee Buckley sold 405 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $79.50, for a total value of $32,197.50. Following the sale, the chief accounting officer directly owned 167 shares of the company's stock, valued at approximately $13,276.50. This represents a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 589,467 shares of company stock worth $44,276,956. 2.50% of the stock is owned by insiders.

Etsy Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

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