Oregon Public Employees Retirement Fund Reduces Holdings in Etsy, Inc. (NASDAQ:ETSY)

Oregon Public Employees Retirement Fund trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 2.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 26,438 shares of the specialty retailer’s stock after selling 562 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Etsy were worth $1,398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Etsy during the fourth quarter valued at $38,000. Capital Performance Advisors LLP purchased a new stake in shares of Etsy during the third quarter valued at $43,000. Versant Capital Management Inc boosted its stake in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Etsy during the third quarter valued at $59,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Moffett Nathanson boosted their target price on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Stifel Nicolaus lowered their price objective on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, February 20th. Finally, UBS Group lowered their price objective on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.78.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Etsy Price Performance

ETSY opened at $51.19 on Friday. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $73.48. The company has a market cap of $5.48 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00. The firm’s 50-day moving average price is $53.77 and its 200-day moving average price is $53.72.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts anticipate 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.