Arizona State Retirement System Sells 332 Shares of Etsy, Inc. (NASDAQ:ETSY)

Arizona State Retirement System trimmed its position in Etsy, Inc. (NASDAQ:ETSY) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,604 shares of the specialty retailer’s stock after selling 332 shares during the period. Arizona State Retirement System’s holdings in Etsy were worth $1,923,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 91,900 shares during the period. Capital International Investors boosted its holdings in Etsy by 0.6% in the 4th 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 during the period. Van ECK Associates Corp lifted its holdings in shares of Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after acquiring an additional 721,454 shares during the last quarter. Bares Capital Management Inc. lifted its holdings in shares of Etsy by 0.9% during the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after acquiring an additional 36,623 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after acquiring an additional 30,561 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ETSY. Wedbush reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Etsy in a report on Monday, July 22nd. Oppenheimer downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Wolfe Research began coverage on shares of Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Loop Capital dropped their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, Evercore ISI raised shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $70.61.

Etsy Stock Performance

ETSY stock opened at $52.58 on Wednesday. Etsy, Inc. has a fifty-two week low of $51.45 and a fifty-two week high of $89.58. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 5.22 and a beta of 1.98. The business’s 50 day moving average price is $57.36 and its two-hundred day moving average price is $62.36.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share 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 analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. Etsy’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 earnings per share. Sell-side analysts forecast that Etsy, Inc. will post 2.38 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,000 shares of company stock valued at $116,395 in the last three months. 2.60% of the stock is currently owned by company insiders.

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.