Etsy Inc $ETSY Stock: Maryland State Retirement & Pension System Raises Holdings

Maryland State Retirement & Pension System grew its holdings in shares of Etsy Inc (NYSE:ETSY) by 30.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,812 shares of the company’s stock after acquiring an additional 5,797 shares during the period. Maryland State Retirement & Pension System’s holdings in Etsy were worth $1,774,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ETSY. Global Retirement Partners LLC acquired a new position in shares of Etsy in the 2nd quarter valued at about $34,000. EFG International AG bought a new stake in shares of Etsy during the 2nd quarter valued at about $45,000. Signaturefd LLC grew its stake in Etsy by 61.8% during the third quarter. Signaturefd LLC now owns 762 shares of the company’s stock worth $54,000 after purchasing an additional 291 shares during the period. CoreCap Advisors LLC grew its stake in Etsy by 2,379.1% during the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock worth $80,000 after purchasing an additional 1,023 shares during the period. Finally, Fulcrum Asset Management LLP bought a new stake in Etsy in the third quarter worth approximately $98,000. 99.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Etsy

In other Etsy news, insider Josh Silverman sold 41,500 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $92.13, for a total value of $3,823,395.00. Following the completion of the sale, the insider owned 221,117 shares of the company’s stock, valued at approximately $20,371,509.21. This trade represents a 15.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marla J. Blow sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $92.67, for a total value of $556,020.00. Following the sale, the director owned 7,024 shares of the company’s stock, valued at approximately $650,914.08. This represents a 46.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 134,656 shares of company stock worth $11,765,784 in the last quarter. Company insiders own 2.50% of the company’s stock.

Etsy Price Performance

Shares of ETSY stock traded up $0.74 on Friday, reaching $89.03. 1,772,410 shares of the company were exchanged, compared to its average volume of 3,591,680. The company has a 50-day moving average of $80.20 and a 200-day moving average of $69.67. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.48 and a beta of 1.76. Etsy Inc has a one year low of $44.00 and a one year high of $97.85.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, October 28th. The company reported $7.31 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $6.55. Etsy had a negative return on equity of 43.65% and a net margin of 34.36%. The business had revenue of $692.47 million during the quarter, compared to analyst estimates of $669.04 million. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts predict that Etsy Inc will post 4.31 EPS for the current year.

Analysts Set New Price Targets

ETSY has been the subject of a number of research analyst reports. Bank of America reiterated a “buy” rating and issued a $115.00 target price on shares of Etsy in a report on Thursday, October 29th. Argus increased their price target on Etsy from $67.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Wedbush raised their price objective on shares of Etsy from $88.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Jefferies Financial Group raised their price objective on shares of Etsy from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. Finally, Citigroup lifted their price objective on shares of Etsy from $92.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $94.07.

Etsy Profile

Etsy, Inc. operates an online marketplace that connects buyers with independent sellers offering distinctive and creative goods. Its platform features products such as handmade items, vintage goods, craft supplies, clothing, jewelry, home décor and art. Founded in 2005 in Brooklyn, New York, Etsy has grown into a global marketplace serving buyers and sellers in numerous countries. The company’s platform provides sellers with tools to list and promote products, communicate with customers and manage orders, while giving shoppers ways to discover items from small businesses and individual creators.