Public Sector Pension Investment Board Invests $249,000 in Etsy, Inc. (NASDAQ:ETSY)

Public Sector Pension Investment Board acquired a new position in Etsy, Inc. (NASDAQ:ETSY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,221 shares of the specialty retailer’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also modified their holdings of ETSY. California State Teachers Retirement System lifted its stake in shares of Etsy by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 196,627 shares of the specialty retailer’s stock worth $15,937,000 after buying an additional 2,846 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Etsy in the fourth quarter worth $676,000. Jones Financial Companies Lllp increased its position in Etsy by 64.0% during the fourth quarter. Jones Financial Companies Lllp now owns 953 shares of the specialty retailer’s stock worth $77,000 after acquiring an additional 372 shares during the period. Rafferty Asset Management LLC increased its position in Etsy by 6.5% during the fourth quarter. Rafferty Asset Management LLC now owns 45,258 shares of the specialty retailer’s stock worth $3,668,000 after acquiring an additional 2,761 shares during the period. Finally, Royal London Asset Management Ltd. increased its position in Etsy by 2.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 53,145 shares of the specialty retailer’s stock worth $4,307,000 after acquiring an additional 1,071 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Down 1.4 %

Shares of NASDAQ ETSY opened at $51.10 on Friday. The firm’s 50-day simple moving average is $55.38 and its 200 day simple moving average is $60.64. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 5.39 and a beta of 1.97. Etsy, Inc. has a 12-month low of $50.54 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last issued 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 company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. On average, equities analysts expect that Etsy, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Etsy in a research report on Monday. Loop Capital dropped their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Oppenheimer lowered 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 target price on shares of Etsy in a research report on Friday, August 23rd. Finally, Stifel Nicolaus lowered their price target on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.22.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the transaction, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 $1,125,083.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,869 shares of company stock worth $315,670. Company insiders own 2.60% of the company’s stock.

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.