VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Stake in Etsy Inc $ETSY

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Etsy Inc (NYSE:ETSY) during the 2nd quarter, Holdings Channel reports. The fund bought 21,400 shares of the company’s stock, valued at approximately $1,612,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in Etsy by 7,217.3% during the second quarter. California State Teachers Retirement System now owns 7,561,851 shares of the company’s stock valued at $569,634,000 after acquiring an additional 7,458,509 shares during the period. William Blair Investment Management LLC bought a new position in shares of Etsy in the second quarter worth about $120,417,000. SG Americas Securities LLC lifted its position in shares of Etsy by 717.7% during the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after purchasing an additional 1,314,071 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after purchasing an additional 1,177,301 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity

In related news, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total value of $1,487,800.00. Following the completion of the transaction, the director directly owned 441,329 shares of the company’s stock, valued at $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 97,389 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the transaction, the insider owned 130,694 shares in the company, valued at $10,324,826. The trade was a 42.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 471,017 shares of company stock valued at $36,593,674 over the last three months. 2.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on Etsy from $61.00 to $76.00 and gave the company an “underweight” rating in a report on Friday, August 7th. Arete Research set a $76.00 price target on Etsy and gave the stock a “buy” rating in a report on Wednesday, May 20th. Sanford C. Bernstein raised Etsy from a “hold” rating to an “outperform” rating in a research report on Thursday, August 20th. Jefferies Financial Group raised their price objective on shares of Etsy from $62.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Finally, Barclays boosted their target price on shares of Etsy from $82.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.46.

Etsy Stock Up 1.9%

Shares of ETSY opened at $72.95 on Friday. The stock’s 50-day moving average price is $80.95 and its 200 day moving average price is $68.22. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 1.79 and a beta of 1.81. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.97.

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

Etsy Company Profile

Etsy, Inc operates a global online marketplace that connects buyers with independent sellers offering handmade, personalized and vintage goods, as well as craft supplies. Its marketplace includes products such as jewelry, clothing, home décor, art, gifts and party supplies.

The company provides tools and services that support commerce on its platform, including seller storefronts, search and discovery features, payment processing, advertising, shipping solutions and customer support. Etsy primarily serves individual entrepreneurs and small businesses seeking to reach consumers interested in distinctive and creatively designed products.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.