Principal Financial Group Inc. Grows Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Principal Financial Group Inc. raised its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 559,749 shares of the specialty retailer's stock after buying an additional 11,860 shares during the period. Principal Financial Group Inc. owned about 0.53% of Etsy worth $26,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meritage Portfolio Management grew its holdings in shares of Etsy by 52.9% during the first quarter. Meritage Portfolio Management now owns 317,521 shares of the specialty retailer's stock worth $14,981,000 after buying an additional 109,901 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Etsy by 8.7% during the 1st quarter. Teacher Retirement System of Texas now owns 35,253 shares of the specialty retailer's stock worth $1,663,000 after acquiring an additional 2,811 shares in the last quarter. Summit Trail Advisors LLC purchased a new stake in Etsy in the 1st quarter valued at approximately $595,000. Ameritas Advisory Services LLC lifted its stake in Etsy by 16.6% in the 1st quarter. Ameritas Advisory Services LLC now owns 19,423 shares of the specialty retailer's stock valued at $928,000 after buying an additional 2,761 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC purchased a new position in shares of Etsy during the 1st quarter worth $649,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ETSY shares. JPMorgan Chase & Co. upped their price objective on Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Etsy and gave the company a "hold" rating in a research report on Monday, April 14th. Wells Fargo & Company set a $41.00 price target on shares of Etsy and gave the stock an "underweight" rating in a research report on Monday, June 30th. Evercore ISI cut their target price on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Canaccord Genuity Group cut their target price on shares of Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $49.91.

Etsy Trading Down 0.4%

ETSY opened at $53.46 on Wednesday. The company's fifty day moving average price is $52.11 and its two-hundred day moving average price is $50.72. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.95 and a beta of 1.74. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $66.81.

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

Insider Activity at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $51.37, for a total value of $1,112,982.42. Following the completion of the transaction, the chief executive officer owned 62,674 shares of the company's stock, valued at $3,219,563.38. The trade was a 25.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the transaction, the chief technology officer directly owned 2,896 shares of the company's stock, valued at approximately $136,140.96. This trade represents a 44.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,298 shares of company stock valued at $11,156,039 over the last three months. 2.80% of the stock is owned by corporate 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.

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