Louisiana State Employees Retirement System Trims Stake in Etsy, Inc. (NASDAQ:ETSY)

Louisiana State Employees Retirement System lessened its holdings in Etsy, Inc. (NASDAQ:ETSY) by 5.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,600 shares of the specialty retailer’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Etsy were worth $389,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Etsy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after acquiring an additional 91,900 shares in the last quarter. Capital International Investors raised its stake in Etsy by 0.6% in the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock valued at $662,605,000 after purchasing an additional 45,305 shares in the last quarter. Van ECK Associates Corp raised its stake in Etsy by 9.2% in the first quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock valued at $346,528,000 after purchasing an additional 425,620 shares in the last quarter. Bares Capital Management Inc. lifted its position in Etsy by 0.9% during the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock valued at $330,711,000 after purchasing an additional 36,623 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in Etsy by 2.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after buying an additional 30,561 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the transaction, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,694 shares of company stock valued at $169,687. 2.60% of the stock is currently owned by company insiders.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $55.09 on Friday. Etsy, Inc. has a 1 year low of $51.45 and a 1 year high of $89.58. The stock’s 50-day moving average is $58.01 and its 200 day moving average is $63.50. The company has a market cap of $6.44 billion, a PE ratio of 25.16, a P/E/G ratio of 5.02 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. During the same period last year, the firm posted $0.83 earnings per share. Etsy’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Etsy, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $56.00 price target on shares of Etsy in a research note on Friday, August 23rd. Wolfe Research assumed coverage on Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wedbush reissued a “neutral” rating and set a $65.00 price objective on shares of Etsy in a report on Monday, July 22nd. Finally, Loop Capital cut their target price on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.55.

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.