Retirement Systems of Alabama Sells 637 Shares of Etsy, Inc. (NASDAQ:ETSY)

Retirement Systems of Alabama reduced its stake in Etsy, Inc. (NASDAQ:ETSY) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,794 shares of the specialty retailer’s stock after selling 637 shares during the period. Retirement Systems of Alabama’s holdings in Etsy were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ETSY. Sunbelt Securities Inc. grew its position in Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Etsy in the second quarter valued at about $42,000. Finally, Principal Securities Inc. bought a new stake in Etsy during the fourth quarter worth about $47,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 750 shares of the business’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 value of $44,805.00. Following the completion of the transaction, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following 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. Insiders sold 2,694 shares of company stock worth $169,687 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Etsy Price Performance

Etsy stock opened at $55.39 on Wednesday. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 5.02 and a beta of 2.02. The company’s 50 day simple moving average is $58.22 and its 200 day simple moving average is $63.86. Etsy, Inc. has a fifty-two week low of $51.45 and a fifty-two week high of $89.58.

Etsy (NASDAQ:ETSY) last announced its quarterly 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). The firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. As a group, analysts predict that Etsy, Inc. will post 2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

ETSY has been the topic of several recent analyst reports. B. Riley reduced their target price on Etsy from $91.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Citigroup reduced their price objective on Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. BTIG Research lowered their target price on Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Oppenheimer downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Finally, Loop Capital lowered their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $71.55.

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.