Kentucky Retirement Systems Trims Position in Etsy, Inc. (NASDAQ:ETSY)

Kentucky Retirement Systems cut its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 11.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,581 shares of the specialty retailer’s stock after selling 1,270 shares during the quarter. Kentucky Retirement Systems’ holdings in Etsy were worth $777,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Financial Advocates Investment Management purchased a new position in shares of Etsy during the fourth quarter valued at approximately $262,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Etsy during the fourth quarter valued at approximately $1,621,000. Trillium Asset Management LLC grew its stake in Etsy by 4.9% in the fourth quarter. Trillium Asset Management LLC now owns 210,044 shares of the specialty retailer’s stock worth $17,024,000 after purchasing an additional 9,817 shares during the period. Panagora Asset Management Inc. grew its stake in Etsy by 4,412.2% in the fourth quarter. Panagora Asset Management Inc. now owns 302,454 shares of the specialty retailer’s stock worth $24,514,000 after purchasing an additional 295,751 shares during the period. Finally, Fiera Capital Corp grew its stake in Etsy by 0.5% in the fourth quarter. Fiera Capital Corp now owns 725,599 shares of the specialty retailer’s stock worth $58,810,000 after purchasing an additional 3,321 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETSY has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Etsy from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Wedbush dropped their target price on Etsy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Citigroup dropped their target price on Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group dropped their target price on Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.96.

Etsy Trading Up 0.1 %

ETSY opened at $64.18 on Wednesday. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 5.25 and a beta of 2.00. The company’s 50 day moving average is $66.04 and its 200 day moving average is $71.57. Etsy, Inc. has a 12-month low of $56.60 and a 12-month high of $102.81.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. As a group, analysts predict that Etsy, Inc. will post 2.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’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 transaction of $107,730.00. Following the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is owned by insiders.

Etsy 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.