Kentucky Retirement Systems Has $520,000 Stake in Etsy, Inc. (NASDAQ:ETSY)

Kentucky Retirement Systems reduced its stake in Etsy, Inc. (NASDAQ:ETSY) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,812 shares of the specialty retailer’s stock after selling 282 shares during the quarter. Kentucky Retirement Systems’ holdings in Etsy were worth $520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Polen Capital Management LLC boosted its holdings in Etsy by 83.3% during the fourth quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after purchasing an additional 15,598 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of Etsy by 23,542.9% during the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock worth $227,000 after buying an additional 3,296 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Etsy in the 4th quarter valued at about $267,000. TD Asset Management Inc increased its position in shares of Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after acquiring an additional 221,275 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in Etsy by 2.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after acquiring an additional 30,561 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Stock Down 0.3 %

Shares of Etsy stock opened at $53.91 on Friday. The company has a 50-day simple moving average of $56.67 and a two-hundred day simple moving average of $61.48. Etsy, Inc. has a twelve month low of $50.63 and a twelve month high of $89.58. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 5.10 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now owns 18,083 shares in the company, valued at $1,001,798.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 2,000 shares of company stock worth $116,395. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ETSY shares. Loop Capital decreased their price target on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Stifel Nicolaus decreased their target price on shares of Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Wolfe Research initiated coverage on shares of Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wedbush restated a “neutral” rating and set a $65.00 price objective on shares of Etsy in a research note on Monday, July 22nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $56.00 target price on shares of Etsy in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $70.61.

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.