California Public Employees Retirement System Sells 10,485 Shares of Etsy, Inc. (NASDAQ:ETSY)

California Public Employees Retirement System reduced its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 203,079 shares of the specialty retailer's stock after selling 10,485 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Etsy worth $10,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. DJE Kapital AG acquired a new stake in shares of Etsy during the 4th quarter worth approximately $983,000. Charles Schwab Investment Management Inc. grew its holdings in Etsy by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after acquiring an additional 122,126 shares during the period. Principal Financial Group Inc. raised its position in shares of Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock valued at $30,125,000 after acquiring an additional 411,165 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Etsy in the 4th quarter valued at $492,000. Finally, Intech Investment Management LLC bought a new position in shares of Etsy in the 4th quarter worth $751,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and upped their price objective for the company from $45.00 to $55.00 in a report on Monday, January 13th. Loop Capital lowered their price target on Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Stifel Nicolaus decreased their price objective on shares of Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a report on Thursday, February 20th. Finally, Bank of America cut their target price on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $56.71.

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Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $48.24, for a total value of $72,360.00. Following the completion of the transaction, the insider now directly owns 34,822 shares of the company's stock, valued at approximately $1,679,813.28. This trade represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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. The trade was a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock valued at $2,554,620 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Etsy Stock Performance

Etsy stock traded up $0.02 during midday trading on Friday, reaching $43.60. The stock had a trading volume of 3,353,881 shares, compared to its average volume of 3,807,877. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72. The firm's fifty day simple moving average is $48.78 and its 200-day simple moving average is $51.89. The stock has a market capitalization of $4.67 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same period last year, the company earned $0.62 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

About Etsy

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.