Louisiana State Employees Retirement System Sells 4,300 Shares of Etsy, Inc. $ETSY

Louisiana State Employees Retirement System reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 8.1% in the second quarter, HoldingsChannel.com reports. The fund owned 48,700 shares of the specialty retailer’s stock after selling 4,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Etsy were worth $2,443,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cooper Financial Group lifted its holdings in shares of Etsy by 31.3% during the 1st quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer’s stock worth $895,000 after acquiring an additional 4,523 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Etsy in the first quarter worth $288,000. Praxis Investment Management Inc. bought a new stake in Etsy in the first quarter worth $232,000. Focus Partners Advisor Solutions LLC bought a new stake in Etsy in the first quarter worth $922,000. Finally, Hunter Perkins Capital Management LLC bought a new stake in Etsy in the first quarter worth $649,000. 99.53% of the stock is owned by institutional investors.

Insider Activity at Etsy

In related news, Director M Michele Burns sold 14,464 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $62.82, for a total transaction of $908,628.48. Following the transaction, the director owned 19,964 shares in the company, valued at $1,254,138.48. The trade was a 42.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 150,000 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $72.50, for a total transaction of $10,875,000.00. Following the transaction, the chief executive officer owned 62,674 shares in the company, valued at $4,543,865. This represents a 70.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 542,667 shares of company stock worth $35,462,857 over the last 90 days. 2.80% of the stock is owned by company insiders.

Etsy Trading Down 5.7%

ETSY stock opened at $68.73 on Friday. The firm’s 50-day moving average price is $62.09 and its two-hundred day moving average price is $55.17. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.51. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 55.43, a PEG ratio of 4.64 and a beta of 1.85.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $672.66 million during the quarter, compared to analysts’ expectations of $645.16 million. During the same quarter in the previous year, the firm posted $0.41 EPS. Etsy’s revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Weiss Ratings raised shares of Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Needham & Company LLC boosted their price target on shares of Etsy from $55.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Morgan Stanley set a $54.00 price target on shares of Etsy in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Etsy from $40.00 to $47.00 and gave the stock a “hold” rating in a research note on Tuesday, July 22nd. Finally, Cantor Fitzgerald boosted their price objective on shares of Etsy from $52.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Nine research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.88.

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.