Arizona State Retirement System Boosts Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Posted by Defense World Staff on May 8th, 2023

Arizona State Retirement System raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 35,837 shares of the specialty retailer’s stock after purchasing an additional 934 shares during the period. Arizona State Retirement System’s holdings in Etsy were worth $4,293,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ETSY. Glassman Wealth Services grew its position in shares of Etsy by 22.1% in the 4th quarter. Glassman Wealth Services now owns 442 shares of the specialty retailer’s stock worth $53,000 after buying an additional 80 shares during the last quarter. LVZ Inc. grew its position in shares of Etsy by 3.0% in the 4th quarter. LVZ Inc. now owns 2,980 shares of the specialty retailer’s stock worth $357,000 after buying an additional 86 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of Etsy by 4.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 2,188 shares of the specialty retailer’s stock worth $262,000 after buying an additional 99 shares during the last quarter. Utah Retirement Systems grew its position in shares of Etsy by 0.4% in the 3rd quarter. Utah Retirement Systems now owns 22,692 shares of the specialty retailer’s stock worth $2,272,000 after buying an additional 100 shares during the last quarter. Finally, CVA Family Office LLC grew its position in shares of Etsy by 32.9% in the 3rd quarter. CVA Family Office LLC now owns 465 shares of the specialty retailer’s stock worth $47,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 95.46% of the company’s stock.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $90.00 on Monday. The firm has a fifty day moving average of $106.00 and a 200 day moving average of $117.63. Etsy, Inc. has a one year low of $67.01 and a one year high of $149.91.

Etsy (NASDAQ:ETSY – Get Rating) last released its earnings results on Wednesday, May 3rd. The specialty retailer reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. Etsy had a negative net margin of 26.86% and a negative return on equity of 118.74%. The business had revenue of $640.90 million during the quarter, compared to analyst estimates of $620.92 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that Etsy, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,000 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $102.79, for a total value of $102,790.00. Following the transaction, the insider now owns 8,704 shares of the company’s stock, valued at $894,684.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Nicholas Daniel sold 1,000 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $102.79, for a total transaction of $102,790.00. Following the sale, the insider now owns 8,704 shares of the company’s stock, valued at $894,684.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Ryan M. Scott sold 6,146 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $107.44, for a total transaction of $660,326.24. Following the sale, the chief marketing officer now owns 4,854 shares in the company, valued at $521,513.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,518 shares of company stock valued at $9,656,482. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

ETSY has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Etsy from $75.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of Etsy in a research note on Monday, March 13th. Barclays lowered their target price on shares of Etsy from $100.00 to $98.00 in a research note on Thursday. Bank of America lifted their target price on shares of Etsy from $145.00 to $153.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Etsy in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Etsy currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.04.

About Etsy

(Get Rating)

Etsy, Inc engages in the operation of an online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments: Etsy, Reverb, Depop, and Elo7. The company was founded in 2005 and is headquartered in New York, NY.