Teacher Retirement System of Texas Has $1.46 Million Position in Etsy, Inc. $ETSY

Teacher Retirement System of Texas cut its position in Etsy, Inc. (NASDAQ:ETSY) by 17.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,156 shares of the specialty retailer’s stock after selling 6,097 shares during the quarter. Teacher Retirement System of Texas’ holdings in Etsy were worth $1,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cooper Financial Group lifted its position in Etsy by 31.3% during the first quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer’s stock valued at $895,000 after purchasing an additional 4,523 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Etsy during the first quarter worth approximately $288,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Etsy during the first quarter worth approximately $922,000. OMNI 360 Wealth Inc. purchased a new position in shares of Etsy during the first quarter worth approximately $246,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Etsy by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,184,851 shares of the specialty retailer’s stock worth $55,901,000 after acquiring an additional 53,831 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Goyal Kruti Patel sold 7,685 shares of Etsy stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $576,451.85. Following the sale, the insider owned 54,840 shares in the company, valued at $4,113,548.40. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $61.46, for a total transaction of $1,331,592.36. Following the completion of the sale, the chief executive officer owned 78,946 shares in the company, valued at approximately $4,852,021.16. This trade represents a 21.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 400,268 shares of company stock valued at $26,311,091 over the last quarter. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on ETSY shares. Truist Financial lifted their target price on shares of Etsy from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Sanford C. Bernstein lifted their target price on shares of Etsy from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. Raymond James Financial reaffirmed an “outperform” rating and issued a $78.00 target price (down from $80.00) on shares of Etsy in a research note on Thursday, October 30th. Piper Sandler reaffirmed a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. Finally, BTIG Research lifted their target price on shares of Etsy from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.24.

Etsy Stock Down 4.3%

NASDAQ:ETSY opened at $58.46 on Wednesday. The stock has a market cap of $5.77 billion, a P/E ratio of 47.15, a price-to-earnings-growth ratio of 10.65 and a beta of 1.85. The firm’s fifty day simple moving average is $64.52 and its 200 day simple moving average is $58.31. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $76.51.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. On average, analysts expect that Etsy, Inc. will post 2.57 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.