Retirement Systems of Alabama Sells 1,426 Shares of Etsy, Inc. (NASDAQ:ETSY)

Retirement Systems of Alabama trimmed its position in Etsy, Inc. (NASDAQ:ETSY) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,390 shares of the specialty retailer’s stock after selling 1,426 shares during the quarter. Retirement Systems of Alabama’s holdings in Etsy were worth $2,139,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Etsy by 23.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock valued at $19,977,000 after buying an additional 57,785 shares in the last quarter. Northern Trust Corp boosted its position in Etsy by 4.3% in the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock valued at $77,118,000 after buying an additional 48,934 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Etsy in the fourth quarter valued at approximately $2,273,000. International Assets Investment Management LLC acquired a new stake in Etsy in the fourth quarter valued at approximately $38,490,000. Finally, CVA Family Office LLC acquired a new stake in Etsy in the fourth quarter valued at approximately $27,000. 99.53% of the stock is owned by institutional investors.

Etsy Trading Down 0.3 %

Etsy stock opened at $62.57 on Thursday. The firm’s 50 day simple moving average is $67.22 and its 200 day simple moving average is $71.46. The firm has a market capitalization of $7.32 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 4.73 and a beta of 2.00. Etsy, Inc. has a 1-year low of $56.60 and a 1-year high of $102.81.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. During the same period in the prior year, the business posted $0.53 EPS. Etsy’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. B. Riley decreased their price target on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays decreased their target price on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Piper Sandler upped their price objective on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer reduced their price objective on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and an average target price of $79.96.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,968 shares of company stock valued at $4,836,827. 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.