Etsy, Inc. $ETSY Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in Etsy, Inc. (NASDAQ:ETSY) by 21.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 430,824 shares of the specialty retailer’s stock after purchasing an additional 75,295 shares during the period. Public Sector Pension Investment Board’s holdings in Etsy were worth $28,602,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Integrated Wealth Concepts LLC grew its position in Etsy by 19.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the specialty retailer’s stock valued at $282,000 after buying an additional 961 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Etsy by 55.5% in the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the specialty retailer’s stock worth $456,000 after acquiring an additional 3,451 shares during the period. Woodline Partners LP purchased a new stake in shares of Etsy in the first quarter valued at about $2,181,000. IFP Advisors Inc increased its stake in shares of Etsy by 21.6% during the second quarter. IFP Advisors Inc now owns 4,001 shares of the specialty retailer’s stock worth $201,000 after acquiring an additional 712 shares during the period. Finally, Blue Trust Inc. raised its holdings in Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ETSY. Stifel Nicolaus lowered their price objective on Etsy from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. The Goldman Sachs Group raised their price target on Etsy from $48.00 to $57.00 and gave the company a “sell” rating in a report on Thursday, October 30th. BTIG Research decreased their price target on Etsy from $81.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, December 30th. Needham & Company LLC increased their price objective on Etsy from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $72.00 target price on shares of Etsy in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.52.

Insider Buying and Selling at Etsy

In other news, CAO Merilee Buckley sold 5,636 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $58.45, for a total value of $329,424.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.26, for a total value of $1,153,931.16. Following the transaction, the insider directly owned 90,661 shares of the company’s stock, valued at $4,828,604.86. This trade represents a 19.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 135,934 shares of company stock worth $7,663,369 in the last three months. 2.80% of the stock is owned by corporate insiders.

Etsy Price Performance

NASDAQ ETSY opened at $45.75 on Friday. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $76.51. The company has a market capitalization of $4.52 billion, a P/E ratio of 36.89, a PEG ratio of 10.65 and a beta of 1.77. The business has a 50 day moving average price of $56.36 and a 200 day moving average price of $59.88.

Etsy announced that its board has approved a stock repurchase plan on Thursday, December 18th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Etsy

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.