Louisiana State Employees Retirement System Invests $584,000 in Etsy, Inc. (NASDAQ:ETSY)

Louisiana State Employees Retirement System purchased a new position in Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, HoldingsChannel reports. The fund purchased 7,200 shares of the specialty retailer’s stock, valued at approximately $584,000.

Several other institutional investors have also recently made changes to their positions in ETSY. Bares Capital Management Inc. increased its holdings in shares of Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock worth $261,143,000 after purchasing an additional 1,480,655 shares during the period. Van ECK Associates Corp increased its stake in Etsy by 40.3% in the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock valued at $235,666,000 after acquiring an additional 1,047,811 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in Etsy by 107.4% in the third quarter. Epoch Investment Partners Inc. now owns 710,224 shares of the specialty retailer’s stock valued at $45,866,000 after acquiring an additional 367,759 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Etsy by 46.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,115,605 shares of the specialty retailer’s stock valued at $72,046,000 after acquiring an additional 352,255 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Etsy by 217.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 400,300 shares of the specialty retailer’s stock valued at $32,444,000 after buying an additional 274,284 shares during the period. Institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Wedbush cut their price target on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Morgan Stanley restated an “underweight” rating and set a $55.00 price target (down from $65.00) on shares of Etsy in a research report on Thursday, April 18th. Piper Sandler increased their target price on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group lowered shares of Etsy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.46.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $67.43 on Monday. Etsy, Inc. has a fifty-two week low of $58.20 and a fifty-two week high of $102.81. The company has a 50 day simple moving average of $68.72 and a two-hundred day simple moving average of $71.60. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 4.69 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The business had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. On average, analysts forecast that Etsy, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction 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 through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,968 shares of company stock valued at $4,836,827. Corporate insiders own 2.60% of the company’s stock.

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.