Nisa Investment Advisors LLC Has $714,000 Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Nisa Investment Advisors LLC lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 38.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,809 shares of the specialty retailer’s stock after buying an additional 2,461 shares during the period. Nisa Investment Advisors LLC’s holdings in Etsy were worth $714,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Etsy by 23.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after purchasing an additional 57,785 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Etsy by 4.3% during the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after purchasing an additional 48,934 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Etsy by 201.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 579,791 shares of the specialty retailer’s stock worth $37,291,000 after purchasing an additional 387,467 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Etsy during the 4th quarter worth $38,490,000. Finally, CVA Family Office LLC acquired a new stake in Etsy in the fourth quarter valued at about $27,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Price Performance

Shares of ETSY opened at $68.36 on Wednesday. Etsy, Inc. has a 1 year low of $58.20 and a 1 year high of $104.93. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 4.68 and a beta of 2.01. The business has a 50-day moving average of $70.16 and a 200-day moving average of $71.39.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at $1,677,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ETSY. Barclays raised their price objective on Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Piper Sandler raised their price objective on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $84.00 to $80.00 in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their price objective on Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $87.84.

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, 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.