New York State Teachers Retirement System Trims Position in Etsy, Inc. (NASDAQ:ETSY)

New York State Teachers Retirement System trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,097 shares of the specialty retailer's stock after selling 7,200 shares during the period. New York State Teachers Retirement System owned 0.10% of Etsy worth $5,147,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its position in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares during the period. Larson Financial Group LLC lifted its position in Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after purchasing an additional 218 shares during the period. Heron Bay Capital Management lifted its holdings in shares of Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock worth $1,072,000 after acquiring an additional 258 shares during the last quarter. True Wealth Design LLC lifted its holdings 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 worth $29,000 after acquiring an additional 292 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Etsy by 7.3% in the fourth quarter. M&T Bank Corp now owns 6,009 shares of the specialty retailer's stock worth $318,000 after acquiring an additional 409 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Down 1.7%

Shares of ETSY traded down $0.89 during trading hours on Tuesday, reaching $52.78. The stock had a trading volume of 304,386 shares, compared to its average volume of 4,309,355. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $66.81. The firm has a 50-day simple moving average of $51.96 and a 200 day simple moving average of $50.70. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 37.60, a P/E/G ratio of 2.99 and a beta of 1.74.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The firm had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. Etsy's revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ETSY shares. The Goldman Sachs Group dropped their target price on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the company a "hold" rating in a research note on Monday, April 14th. Evercore ISI lowered their price objective on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Morgan Stanley decreased their target price on shares of Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Etsy in a research report on Wednesday, April 30th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $49.91.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total transaction of $77,040.00. Following the completion of the transaction, the insider owned 34,683 shares of the company's stock, valued at $1,781,318.88. The trade was a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $47.01, for a total value of $110,473.50. Following the transaction, the chief technology officer directly owned 2,896 shares of the company's stock, valued at $136,140.96. The trade was a 44.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,298 shares of company stock valued at $11,156,039. 2.80% of the stock is owned by insiders.

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.