Etsy, Inc. (NASDAQ:ETSY) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,620 shares of the specialty retailer's stock after purchasing an additional 7,709 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Etsy were worth $1,884,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. DJE Kapital AG purchased a new stake in Etsy during the 4th quarter worth about $983,000. Charles Schwab Investment Management Inc. grew its stake in Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after acquiring an additional 122,126 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after purchasing an additional 411,165 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Etsy in the 4th quarter worth about $492,000. Finally, Natixis Advisors LLC acquired a new position in shares of Etsy during the 4th quarter valued at about $606,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the completion of the sale, the chief executive officer now owns 31,818 shares of the company's stock, valued at $1,534,582.14. This represents a 40.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares of the company's stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,952 shares of company stock worth $2,554,620. Insiders own 2.60% of the company's stock.

Etsy Stock Performance

Shares of ETSY traded down $0.73 during midday trading on Thursday, hitting $42.75. 1,839,885 shares of the company traded hands, compared to its average volume of 3,904,551. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.57 and a beta of 2.15. The firm has a 50 day moving average of $46.27 and a 200-day moving average of $51.20. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.99). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. During the same period in the previous year, the firm earned $0.48 earnings per share. The company's revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on ETSY shares. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and lifted their target price for the company from $45.00 to $55.00 in a report on Monday, January 13th. Evercore ISI decreased their price objective on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday. Morgan Stanley reduced their target price on shares of Etsy from $44.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on Etsy and gave the stock a "hold" rating in a research report on Monday, April 14th. Finally, Citigroup reduced their price target on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $52.75.

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.