State of New Jersey Common Pension Fund D Decreases Holdings in Etsy, Inc. (NASDAQ:ETSY)

State of New Jersey Common Pension Fund D cut its stake in Etsy, Inc. (NASDAQ:ETSY) by 37.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,772 shares of the specialty retailer’s stock after selling 26,759 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Etsy were worth $2,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Accretive Wealth Partners LLC lifted its position in Etsy by 3.8% during the 4th quarter. Accretive Wealth Partners LLC now owns 6,232 shares of the specialty retailer’s stock worth $505,000 after acquiring an additional 226 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Etsy during the fourth quarter worth $47,000. Dimensional Fund Advisors LP boosted its stake in shares of Etsy by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 594,667 shares of the specialty retailer’s stock valued at $48,202,000 after purchasing an additional 28,910 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Etsy by 3.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock valued at $354,000 after purchasing an additional 161 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Etsy by 56.4% during the 4th quarter. Quadrant Capital Group LLC now owns 688 shares of the specialty retailer’s stock worth $56,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity at Etsy

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ETSY shares. Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Evercore ISI upgraded Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Wolfe Research began coverage on Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their target price on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, June 25th. Finally, Cantor Fitzgerald started coverage on shares of Etsy in a research note on Thursday, September 5th. They issued a “neutral” rating and a $50.00 price target for the company. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.61.

Etsy Stock Down 0.2 %

ETSY stock opened at $54.00 on Thursday. The stock has a market cap of $6.31 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 5.10 and a beta of 1.98. The firm’s 50-day simple moving average is $56.96 and its 200 day simple moving average is $61.73. Etsy, Inc. has a fifty-two week low of $50.63 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 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 revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. Equities analysts forecast that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Etsy 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.