Maryland State Retirement & Pension System reduced its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,018 shares of the specialty retailer's stock after selling 6,524 shares during the period. Maryland State Retirement & Pension System's holdings in Etsy were worth $1,794,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC lifted its position in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after buying an additional 292 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Etsy during the 4th quarter worth $34,000. Allworth Financial LP increased its stake in Etsy by 47.6% during the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 248 shares during the period. Johnson Financial Group Inc. increased its stake in Etsy by 862.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,270 shares of the specialty retailer's stock worth $70,000 after acquiring an additional 1,138 shares during the period. Finally, Olde Wealth Management LLC bought a new position in Etsy during the 1st quarter worth $70,000. 99.53% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
ETSY has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their target price on Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Canaccord Genuity Group set a $76.00 price objective on Etsy in a report on Wednesday, July 30th. Citigroup lowered their target price on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Barclays reaffirmed a "positive" rating and set a $60.00 target price (up from $52.00) on shares of Etsy in a research report on Thursday, July 31st. Finally, B. Riley lowered their price objective on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $57.20.
View Our Latest Stock Analysis on ETSY
Insider Buying and Selling at Etsy
In other Etsy news, Director Melissa Reiff sold 6,909 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $58.89, for a total transaction of $406,871.01. Following the sale, the director owned 16,424 shares of the company's stock, valued at $967,209.36. The trade was a 29.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $58.79, for a total transaction of $88,185.00. Following the sale, the insider directly owned 33,183 shares in the company, valued at $1,950,828.57. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 366,968 shares of company stock worth $22,076,609. Company insiders own 2.80% of the company's stock.
Etsy Trading Up 0.7%
NASDAQ:ETSY opened at $60.91 on Friday. The stock has a market capitalization of $6.04 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 3.87 and a beta of 1.73. The firm's 50 day moving average is $57.58 and its 200 day moving average is $51.63. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $68.45.
Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). The company had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.
About Etsy
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy, Inc. (NASDAQ:ETSY - Free Report).

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