Teacher Retirement System of Texas Purchases 2,811 Shares of Etsy, Inc. (NASDAQ:ETSY)

Teacher Retirement System of Texas increased its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 8.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 35,253 shares of the specialty retailer’s stock after buying an additional 2,811 shares during the period. Teacher Retirement System of Texas’ holdings in Etsy were worth $1,663,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC increased its position in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 292 shares during the period. Hurley Capital LLC acquired a new stake in Etsy during the fourth quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Etsy in the fourth quarter valued at approximately $34,000. Summit Securities Group LLC bought a new stake in shares of Etsy during the fourth quarter worth about $37,000. Finally, Johnson Financial Group Inc. grew its holdings in Etsy by 862.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,270 shares of the specialty retailer’s stock worth $70,000 after buying an additional 1,138 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total value of $77,040.00. Following the completion of the transaction, the insider owned 34,683 shares in the company, valued at approximately $1,781,318.88. The trade was a 4.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the sale, the chief technology officer directly owned 2,896 shares in the company, valued at $136,140.96. This trade represents a 44.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,298 shares of company stock worth $11,156,039. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ETSY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Etsy in a research report on Wednesday, April 30th. Loop Capital reduced their target price on Etsy from $40.00 to $37.00 and set a “sell” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus decreased their price objective on Etsy from $51.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Citizens Jmp upgraded shares of Etsy to a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group lowered their price objective on shares of Etsy from $35.00 to $31.00 and set a “sell” rating for the company in a report on Thursday, May 1st. Six investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus target price of $49.91.

Etsy Trading Down 0.5%

Shares of ETSY opened at $57.87 on Friday. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $66.81. The firm has a market cap of $6.03 billion, a PE ratio of 41.34, a P/E/G ratio of 3.20 and a beta of 1.74. The firm has a fifty day simple moving average of $52.91 and a two-hundred day simple moving average of $50.78.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). The firm had revenue of $651.18 million during the quarter, compared to analysts’ expectations of $642.22 million. Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

About Etsy

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.