28,467 Shares in Etsy Inc $ETSY Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in Etsy Inc (NYSE:ETSY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,467 shares of the company’s stock, valued at approximately $2,144,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ETSY. Global Retirement Partners LLC purchased a new stake in shares of Etsy in the 2nd quarter worth about $34,000. EFG International AG bought a new position in shares of Etsy in the 2nd quarter worth about $45,000. Danske Bank A S purchased a new position in Etsy during the 3rd quarter valued at about $66,000. CoreCap Advisors LLC lifted its position in Etsy by 2,379.1% during the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock valued at $80,000 after acquiring an additional 1,023 shares during the period. Finally, Federation des caisses Desjardins du Quebec boosted its stake in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analyst support and upcoming conference: Etsy has a “Moderate Buy” consensus rating and an average price target of $84.68, while Morgan Stanley recently upgraded the stock to “outperform.” Management will also participate in the Goldman Sachs Communacopia and Technology Conference on September 9, giving investors an opportunity to hear updates on marketplace trends, growth initiatives and the outlook. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Post-earnings estimates are the next focus: About 30 days after its latest report, investors are watching whether earnings estimates can improve enough to support a rebound. Etsy exceeded revenue expectations with $668.31 million, compared with the $646.10 million consensus, but revenue declined 0.7% year over year and reported EPS of negative $0.49 missed the $0.75 estimate by a wide margin. Analysts currently expect approximately $3.94 in full-year EPS. Etsy Down Since Last Earnings Report
• Negative Sentiment: Insider selling may weigh on sentiment: Executives and directors disclosed sales totaling roughly 36,280 shares, including CEO Josh Silverman’s sales, director Frederick Wilson’s 20,000-share sale and Richard Colburn’s sale to cover tax withholding. Most transactions were made under pre-arranged Rule 10b5-1 plans, and the insiders retained sizable positions, reducing their value as a direct bearish signal; nevertheless, the cluster of sales creates near-term selling pressure and may raise investor concerns. Etsy Insider Selling Report

Insider Buying and Selling at Etsy

In related news, insider Richard Edward Colburn III sold 2,913 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $82.11, for a total transaction of $239,186.43. Following the sale, the insider directly owned 6,503 shares of the company’s stock, valued at $533,961.33. This trade represents a 30.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $81.86, for a total value of $1,637,200.00. Following the completion of the sale, the director owned 401,329 shares of the company’s stock, valued at $32,852,791.94. The trade was a 4.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 471,017 shares of company stock worth $36,593,674. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of Etsy from an “underweight” rating to an “outperform” rating in a research note on Thursday, August 20th. Guggenheim boosted their price target on Etsy from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Wells Fargo & Company raised their price objective on Etsy from $61.00 to $76.00 and gave the company an “underweight” rating in a research report on Friday, August 7th. Finally, B. Riley Financial lifted their price objective on Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.68.

Etsy Stock Performance

Shares of NYSE ETSY opened at $76.39 on Monday. The firm’s 50 day moving average price is $81.28 and its 200-day moving average price is $67.46. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97. The company has a market cap of $7.25 billion, a PE ratio of 42.68, a P/E/G ratio of 1.91 and a beta of 1.81.

Etsy (NYSE:ETSY) last announced its quarterly earnings results 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 net margin of 7.32% and a negative return on equity of 34.18%. The firm had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. During the same period last year, the business earned $0.25 EPS. Etsy’s revenue was down .7% on a year-over-year basis. On average, analysts forecast that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Etsy Profile

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.