Teacher Retirement System of Texas Increases Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Teacher Retirement System of Texas boosted its position in Etsy, Inc. (NASDAQ:ETSY) by 50.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,442 shares of the specialty retailer’s stock after acquiring an additional 10,920 shares during the quarter. Teacher Retirement System of Texas’ holdings in Etsy were worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Etsy in the 3rd quarter valued at about $55,530,000. Holocene Advisors LP acquired a new position in Etsy during the third quarter valued at approximately $49,061,000. Assenagon Asset Management S.A. grew its stake in Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after buying an additional 850,520 shares during the period. Victory Capital Management Inc. increased its position in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after acquiring an additional 711,572 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the topic of several research reports. Morgan Stanley cut their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Citigroup dropped their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company upped their price target on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Canaccord Genuity Group dropped their price objective on shares of Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald lowered their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.42.

Etsy Price Performance

Shares of ETSY opened at $46.92 on Friday. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72. The stock has a fifty day moving average price of $51.05 and a 200 day moving average price of $52.67. The company has a market cap of $5.02 billion, a P/E ratio of 19.80, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. The business had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. As a group, research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares of the company’s stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,666 shares of company stock valued at $1,286,445. 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.