Public Employees Retirement System of Ohio Sells 5,697 Shares of Etsy, Inc. (NASDAQ:ETSY)

Public Employees Retirement System of Ohio decreased its holdings in Etsy, Inc. (NASDAQ:ETSY) by 10.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 46,354 shares of the specialty retailer’s stock after selling 5,697 shares during the period. Public Employees Retirement System of Ohio’s holdings in Etsy were worth $3,185,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ETSY. Fifth Third Bancorp increased its stake in shares of Etsy by 5.2% in the 4th quarter. Fifth Third Bancorp now owns 6,041 shares of the specialty retailer’s stock valued at $490,000 after purchasing an additional 297 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Etsy during the 4th quarter valued at $543,000. Ballentine Partners LLC acquired a new stake in shares of Etsy during the 4th quarter valued at $263,000. Arizona State Retirement System boosted its holdings in shares of Etsy by 0.5% during the 4th quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock valued at $2,740,000 after acquiring an additional 157 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Etsy during the 4th quarter valued at $38,490,000. Institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $38,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ETSY shares. Truist Financial cut their price objective on Etsy from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday. JMP Securities downgraded Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday. Wolfe Research began coverage on Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Canaccord Genuity Group dropped their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus price target of $78.67.

Etsy Stock Down 7.6 %

Shares of Etsy stock opened at $60.16 on Friday. The company has a market cap of $7.03 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 5.33 and a beta of 2.02. Etsy, Inc. has a 52 week low of $55.08 and a 52 week high of $97.44. The business has a 50 day moving average price of $61.12 and a 200-day moving average price of $66.10.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 53.09%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, research analysts anticipate that Etsy, Inc. will post 2.48 EPS for the current year.

Etsy 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.