State of Tennessee Department of Treasury Buys 7,338 Shares of Etsy, Inc. (NASDAQ:ETSY)

State of Tennessee Department of Treasury lifted its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,597 shares of the specialty retailer's stock after purchasing an additional 7,338 shares during the period. State of Tennessee Department of Treasury's holdings in Etsy were worth $2,835,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in shares of Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after acquiring an additional 411,165 shares in the last quarter. Versant Capital Management Inc increased its stake in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock valued at $44,000 after purchasing an additional 499 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Etsy by 1.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 49,042 shares of the specialty retailer's stock valued at $2,594,000 after purchasing an additional 816 shares in the last quarter. Cooper Financial Group increased its stake in Etsy by 4.7% during the 4th quarter. Cooper Financial Group now owns 14,439 shares of the specialty retailer's stock valued at $764,000 after purchasing an additional 642 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Etsy during the 4th quarter valued at about $280,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,952 shares of company stock valued at $2,554,620 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Etsy Stock Down 2.2 %

ETSY traded down $0.97 on Thursday, hitting $42.51. The company had a trading volume of 6,404,159 shares, compared to its average volume of 3,921,891. The company has a market cap of $4.47 billion, a PE ratio of 17.94, a PEG ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $71.72. The business's fifty day simple moving average is $46.27 and its 200 day simple moving average is $51.20.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). The firm had revenue of $651.18 million during 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%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. On average, analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ETSY. Cantor Fitzgerald raised their price objective on shares of Etsy from $42.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley lowered their price target on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a report on Thursday. Piper Sandler lowered their price target on Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Bank of America lowered their price target on Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $52.54.

About Etsy

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.