Texas Permanent School Fund Corp increased its holdings in Etsy, Inc. (NASDAQ:ETSY – Free Report) by 46.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,097 shares of the specialty retailer’s stock after buying an additional 8,279 shares during the period. Texas Permanent School Fund Corp’s holdings in Etsy were worth $2,905,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of ETSY. Private Advisor Group LLC boosted its stake in Etsy by 16.1% during the 1st quarter. Private Advisor Group LLC now owns 5,222 shares of the specialty retailer’s stock valued at $649,000 after purchasing an additional 725 shares during the period. Panagora Asset Management Inc. boosted its stake in Etsy by 320.6% during the 1st quarter. Panagora Asset Management Inc. now owns 11,255 shares of the specialty retailer’s stock valued at $1,399,000 after purchasing an additional 8,579 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Etsy by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,964 shares of the specialty retailer’s stock valued at $2,108,000 after purchasing an additional 1,051 shares during the period. Yousif Capital Management LLC raised its position in shares of Etsy by 0.7% during the 1st quarter. Yousif Capital Management LLC now owns 29,567 shares of the specialty retailer’s stock worth $3,675,000 after buying an additional 211 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its position in shares of Etsy by 7.3% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 2,256 shares of the specialty retailer’s stock worth $280,000 after buying an additional 153 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Etsy
In other news, insider Nicholas Daniel sold 1,760 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $101.65, for a total value of $178,904.00. Following the completion of the transaction, the insider now owns 8,704 shares of the company’s stock, valued at $884,761.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Etsy news, insider Nicholas Daniel sold 1,760 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $101.65, for a total transaction of $178,904.00. Following the completion of the sale, the insider now owns 8,704 shares of the company’s stock, valued at approximately $884,761.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $95.35, for a total transaction of $1,988,047.50. Following the sale, the chief executive officer now directly owns 14,674 shares of the company’s stock, valued at approximately $1,399,165.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,823 shares of company stock valued at $8,860,047. 2.60% of the stock is currently owned by insiders.
Etsy Stock Performance
Etsy (NASDAQ:ETSY – Get Free Report) last posted its quarterly earnings data on Wednesday, May 3rd. The specialty retailer reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $620.92 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. Etsy’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts predict that Etsy, Inc. will post 2.33 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have commented on ETSY shares. Loop Capital dropped their price target on shares of Etsy from $105.00 to $100.00 in a research report on Thursday, June 22nd. Jefferies Financial Group increased their target price on shares of Etsy from $75.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday. Wells Fargo & Company began coverage on shares of Etsy in a research note on Wednesday, June 7th. They set an “underweight” rating and a $70.00 target price for the company. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Etsy in a research report on Wednesday, April 19th. Finally, BTIG Research reduced their price target on shares of Etsy from $130.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $122.55.
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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.
Featured Stories
- Five stocks we like better than Etsy
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Markets Are Loving Boeing Stock After Earnings, Time To Buy?
- What is a Mid Cap Stock? How to Invest
- Nothing But Upside For High-Yield Verizon?
- Why Average Daily Trading Volume Matters to Every Investor
- Will Coca-Cola Stock Move To New Highs Or Fall Flat In 2023?
Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy, Inc. (NASDAQ:ETSY – Free Report).
Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.
