Retirement Systems of Alabama boosted its position in Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 34.0% during the first quarter, Holdings Channel reports. The institutional investor owned 96,033 shares of the specialty retailer’s stock after purchasing an additional 24,361 shares during the quarter. Retirement Systems of Alabama’s holdings in Etsy were worth $11,935,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ETSY. CVA Family Office LLC acquired a new stake in Etsy in the 4th quarter valued at approximately $26,000. Rinkey Investments acquired a new position in shares of Etsy during the 4th quarter worth approximately $26,000. American National Bank increased its position in shares of Etsy by 71.3% during the 1st quarter. American National Bank now owns 209 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Covestor Ltd acquired a new position in shares of Etsy during the 4th quarter worth approximately $29,000. Finally, Ahrens Investment Partners LLC acquired a new position in shares of Etsy during the 4th quarter worth approximately $33,000. 89.93% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $74.14, for a total transaction of $1,545,819.00. Following the completion of the sale, the chief executive officer now directly owns 102,707 shares in the company, valued at approximately $7,614,696.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Ryan M. Scott sold 2,323 shares of the company’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $132.60, for a total value of $308,029.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,228 shares of company stock valued at $9,624,096. Corporate insiders own 3.10% of the company’s stock.
ETSY opened at $79.81 on Monday. The business has a fifty day simple moving average of $82.82 and a 200 day simple moving average of $127.65. The company has a market capitalization of $10.15 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 1.58 and a beta of 1.74. Etsy, Inc. has a 1 year low of $67.01 and a 1 year high of $307.75. The company has a debt-to-equity ratio of 3.52, a current ratio of 2.68 and a quick ratio of 2.68.
Etsy (NASDAQ:ETSY – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The business had revenue of $579.30 million during the quarter, compared to the consensus estimate of $574.71 million. Etsy had a return on equity of 73.57% and a net margin of 18.49%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. Equities analysts anticipate that Etsy, Inc. will post 2.01 earnings per share for the current fiscal year.
ETSY has been the topic of several recent analyst reports. Stifel Nicolaus lowered their price target on Etsy from $160.00 to $130.00 in a research report on Thursday, May 5th. Sanford C. Bernstein started coverage on Etsy in a research note on Monday, May 23rd. They set an “outperform” rating and a $105.00 target price for the company. Needham & Company LLC downgraded Etsy from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. Truist Financial reduced their target price on Etsy from $220.00 to $150.00 in a research note on Monday, May 9th. Finally, Raymond James started coverage on Etsy in a research note on Wednesday, June 29th. They set an “outperform” rating and a $100.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Etsy has an average rating of “Moderate Buy” and an average price target of $139.37.
Etsy Company Profile (Get Rating)
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.
Further Reading
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