Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 1.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 44,542 shares of the specialty retailer’s stock after selling 868 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Etsy were worth $2,356,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ETSY. Xponance Inc. boosted its stake in shares of Etsy by 19.8% during the 4th quarter. Xponance Inc. now owns 15,609 shares of the specialty retailer’s stock worth $826,000 after acquiring an additional 2,578 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Etsy during the 4th quarter worth about $751,000. Kennondale Capital Management LLC purchased a new stake in shares of Etsy during the 4th quarter worth about $926,000. Royce & Associates LP purchased a new stake in shares of Etsy during the 4th quarter worth about $4,154,000. Finally, Natixis Advisors LLC purchased a new stake in shares of Etsy during the 4th quarter worth about $606,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $44.93 on Friday. The company has a 50 day simple moving average of $51.72 and a 200-day simple moving average of $52.96. The company has a market capitalization of $4.81 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 1 year low of $43.43 and a 1 year high of $71.72.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS. As a group, research analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the sale, the insider now owns 20,698 shares of the company’s stock, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,666 shares of company stock worth $1,286,445. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETSY. UBS Group lowered their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Citigroup lowered their target price on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and decreased their price target for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Canaccord Genuity Group decreased their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald decreased their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.42.

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.