NJ State Employees Deferred Compensation Plan bought a new position in shares of Etsy Inc (NASDAQ:ETSY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,000 shares of the specialty retailer’s stock, valued at approximately $360,000.
Other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its holdings in shares of Etsy by 16.7% during the second quarter. Sei Investments Co. now owns 52,631 shares of the specialty retailer’s stock worth $2,220,000 after purchasing an additional 7,547 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Etsy by 48.1% during the second quarter. Canada Pension Plan Investment Board now owns 344,800 shares of the specialty retailer’s stock valued at $14,547,000 after buying an additional 112,000 shares during the period. Dupont Capital Management Corp acquired a new stake in Etsy during the second quarter valued at $672,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Etsy by 39.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 92,205 shares of the specialty retailer’s stock valued at $3,890,000 after buying an additional 26,195 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Etsy during the second quarter valued at $3,753,000. 86.75% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Frederick R. Wilson sold 22,062 shares of Etsy stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $45.48, for a total value of $1,003,379.76. Following the sale, the director now owns 23,487 shares in the company, valued at $1,068,188.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director M Michele Burns sold 45,000 shares of Etsy stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $44.48, for a total transaction of $2,001,600.00. Following the completion of the sale, the director now owns 28,103 shares in the company, valued at approximately $1,250,021.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,062 shares of company stock worth $4,834,580. Company insiders own 2.80% of the company’s stock.
Several research firms recently commented on ETSY. KeyCorp raised their price target on shares of Etsy from $51.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, October 2nd. Stifel Nicolaus raised their price target on shares of Etsy from $37.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, August 7th. DA Davidson raised their price target on shares of Etsy from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. Ifs Securities raised their price target on shares of Etsy to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, August 7th. Finally, TheStreet lowered shares of Etsy from a “b-” rating to a “c+” rating in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.04.
ETSY stock opened at $43.25 on Friday. The firm has a market cap of $5.17 billion, a P/E ratio of 107.93, a PEG ratio of 7.00 and a beta of 0.23. The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 0.90. Etsy Inc has a one year low of $15.27 and a one year high of $53.25.
Etsy (NASDAQ:ETSY) last announced its earnings results on Monday, August 6th. The specialty retailer reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). Etsy had a net margin of 17.52% and a return on equity of 13.23%. The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $127.10 million. During the same quarter last year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. Research analysts predict that Etsy Inc will post 0.41 earnings per share for the current year.
Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.
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