California Public Employees Retirement System Has $17.68 Million Holdings in Etsy, Inc. (NASDAQ:ETSY)

California Public Employees Retirement System decreased its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 218,091 shares of the specialty retailer’s stock after selling 12,123 shares during the quarter. California Public Employees Retirement System’s holdings in Etsy were worth $17,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. CVA Family Office LLC bought a new position in Etsy in the fourth quarter worth approximately $27,000. Operose Advisors LLC acquired a new position in shares of Etsy during the third quarter worth approximately $28,000. Tompkins Financial Corp bought a new position in shares of Etsy in the 4th quarter worth $41,000. KB Financial Partners LLC grew its position in Etsy by 99.5% in the 3rd quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 417 shares during the period. Finally, Signaturefd LLC increased its stake in Etsy by 33.1% during the 3rd quarter. Signaturefd LLC now owns 1,103 shares of the specialty retailer’s stock valued at $71,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the transaction, the insider now directly owns 19,682 shares in the company, valued at approximately $1,299,208.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $4,570,907.50. Following the sale, the chief executive officer now directly 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 the SEC website. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the transaction, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ETSY. UBS Group reduced their price objective on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Piper Sandler upped their target price on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Barclays increased their price target on Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Wells Fargo & Company cut their price objective on Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Finally, Truist Financial decreased their target price on Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Three equities research 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’s stock. Based on data from MarketBeat.com, Etsy has a consensus rating of “Hold” and a consensus price target of $84.04.

Etsy Stock Performance

NASDAQ:ETSY opened at $68.88 on Tuesday. Etsy, Inc. has a 52-week low of $58.20 and a 52-week high of $102.81. The business’s fifty day moving average is $68.72 and its 200 day moving average is $71.60. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 4.69 and a beta of 2.01.

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

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.