Canada Pension Plan Investment Board Increases Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Canada Pension Plan Investment Board grew its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 72.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 381,500 shares of the specialty retailer's stock after acquiring an additional 159,700 shares during the quarter. Canada Pension Plan Investment Board owned about 0.34% of Etsy worth $20,178,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Etsy during the fourth quarter worth about $74,235,000. Assenagon Asset Management S.A. grew its holdings in shares of Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after purchasing an additional 850,520 shares during the period. Victory Capital Management Inc. increased its position in shares of Etsy by 703.8% during the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after purchasing an additional 711,572 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Etsy by 17.4% during the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after purchasing an additional 522,111 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock valued at $30,125,000 after buying an additional 411,165 shares during the period. Hedge funds and other institutional investors own 99.53% of the company's stock.

Insider Buying and Selling at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares of the company's stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock worth $2,554,620 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of recent analyst reports. Bank of America dropped their price target on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Loop Capital dropped their target price on shares of Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a report on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and set a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. UBS Group lowered their price target on Etsy from $54.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Citigroup cut their price objective on Etsy from $56.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $55.75.

Etsy Price Performance

Shares of NASDAQ ETSY traded down $0.24 during midday trading on Thursday, hitting $45.55. 6,496,149 shares of the company's stock were exchanged, compared to its average volume of 3,844,387. The firm's fifty day simple moving average is $47.11 and its 200-day simple moving average is $51.38. The company has a market cap of $4.79 billion, a PE ratio of 19.22, a P/E/G ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share 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 the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. Equities 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.