OMERS ADMINISTRATION Corp Sells 11,500 Shares of Etsy, Inc. (NASDAQ:ETSY)

OMERS ADMINISTRATION Corp cut its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 34.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,858 shares of the specialty retailer's stock after selling 11,500 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Etsy were worth $1,156,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Etsy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock valued at $651,056,000 after purchasing an additional 56,772 shares during the period. Renaissance Technologies LLC lifted its position in shares of Etsy by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after acquiring an additional 235,550 shares during the period. Van ECK Associates Corp lifted its position in shares of Etsy by 17.4% during 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 acquiring an additional 522,111 shares during the period. DAVENPORT & Co LLC lifted its position in shares of Etsy by 12.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock valued at $92,452,000 after acquiring an additional 188,386 shares during the period. Finally, Norges Bank bought a new stake in shares of Etsy during the 4th quarter valued at $74,235,000. 99.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the transaction, the insider now owns 20,698 shares in the company, valued at approximately $1,044,835.04. The trade was a 6.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,418 shares of company stock worth $3,601,377. Corporate insiders own 2.60% of the company's stock.

Etsy Stock Performance

Shares of Etsy stock traded up $0.13 on Tuesday, reaching $47.16. 3,923,970 shares of the company's stock were exchanged, compared to its average volume of 3,893,788. The company has a market capitalization of $4.92 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93. The firm's 50-day moving average is $45.41 and its two-hundred day moving average is $50.85.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ETSY shares. Canaccord Genuity Group lowered their price target on Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 28th. B. Riley lowered their price target on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Evercore ISI lowered their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $60.00 price target on shares of Etsy in a report on Wednesday, April 30th. Finally, Barclays lowered their price target on Etsy from $55.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Etsy currently has a consensus rating of "Hold" and an average price target of $50.14.

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.