OMERS ADMINISTRATION Corp Takes Position in Etsy Inc $ETSY

OMERS ADMINISTRATION Corp acquired a new stake in shares of Etsy Inc (NYSE:ETSY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 23,800 shares of the company’s stock, valued at approximately $1,793,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. EFG International AG acquired a new position in Etsy in the 4th quarter worth about $33,000. Global Retirement Partners LLC acquired a new stake in shares of Etsy during the second quarter valued at about $34,000. Blue Trust Inc. boosted its stake in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Danske Bank A S bought a new stake in shares of Etsy during the third quarter worth about $66,000. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after buying an additional 225 shares during the period. Institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Etsy in a report on Monday, August 17th. They issued a “neutral” rating and a $89.00 price objective for the company. Bank of America raised shares of Etsy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $88.00 to $95.00 in a report on Thursday, August 20th. JPMorgan Chase & Co. upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and upped their price target for the company from $85.00 to $100.00 in a research report on Friday, August 7th. Piper Sandler raised their price target on shares of Etsy from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Evercore set a $83.00 price target on shares of Etsy in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $84.68.

Insider Activity

In related news, CFO Charles Baker sold 1,564 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $85.88, for a total transaction of $134,316.32. Following the sale, the chief financial officer owned 11,357 shares in the company, valued at $975,339.16. This represents a 12.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 8,252 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the sale, the insider directly owned 6,503 shares of the company’s stock, valued at $533,831.27. This represents a 55.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 584,967 shares of company stock worth $43,908,631. 2.50% of the stock is owned by insiders.

Etsy Stock Performance

Shares of NYSE ETSY opened at $81.75 on Thursday. The company has a market capitalization of $7.76 billion, a P/E ratio of 45.67, a price-to-earnings-growth ratio of 4.08 and a beta of 1.84. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97. The company’s 50 day moving average price is $80.46 and its 200-day moving average price is $65.93.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The firm had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. During the same quarter last year, the company earned $0.25 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Analysts forecast that Etsy Inc will post 3.94 earnings per share for the current year.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.