Texas Permanent School Fund Corp Cuts Stake in Etsy, Inc. (NASDAQ:ETSY)

Texas Permanent School Fund Corp lessened its stake in Etsy, Inc. (NASDAQ:ETSY) by 20.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,803 shares of the specialty retailer’s stock after selling 4,952 shares during the period. Texas Permanent School Fund Corp’s holdings in Etsy were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Etsy by 0.7% in the first 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 last quarter. Capital International Investors grew 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 during the last quarter. Van ECK Associates Corp grew its stake in shares of Etsy by 14.3% during the second 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. grew its stake in shares of Etsy by 0.9% during the fourth 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 grew its stake in shares of Etsy by 2.0% during the fourth 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. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 0.3 %

Shares of NASDAQ:ETSY opened at $53.91 on Friday. Etsy, Inc. has a 12-month low of $50.63 and a 12-month high of $89.58. The company has a market capitalization of $6.30 billion, a PE ratio of 24.15, a PEG ratio of 5.10 and a beta of 1.98. The business has a 50 day moving average of $56.81 and a two-hundred day moving average of $61.62.

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 analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of research analyst reports. Piper Sandler restated a “neutral” rating and set a $56.00 price target on shares of Etsy in a research note on Friday, August 23rd. Wedbush restated a “neutral” rating and set a $65.00 price target on shares of Etsy in a research note on Monday, July 22nd. Stifel Nicolaus dropped their price target on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Wolfe Research initiated coverage on Etsy in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.61.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred 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 directly owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 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.