Etsy, Inc. (NASDAQ:ETSY) Stock Holdings Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 50.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,442 shares of the specialty retailer's stock after purchasing an additional 10,920 shares during the period. 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.

Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after buying an additional 181 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Etsy during the fourth quarter valued at approximately $38,000. Versant Capital Management Inc lifted its position 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 worth $44,000 after purchasing an additional 499 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Etsy by 95.1% in the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer's stock valued at $46,000 after purchasing an additional 426 shares during the period. Finally, Denver PWM LLC grew its holdings in Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock valued at $58,000 after purchasing an additional 289 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Etsy from an "underperform" rating to a "hold" rating and boosted their price objective for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Cantor Fitzgerald reduced their price target on Etsy from $46.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft downgraded Etsy to a "hold" rating and dropped their price objective for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on Etsy from $44.00 to $47.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. began coverage on shares of Etsy in a report on Wednesday, March 19th. They issued a "neutral" rating and a $50.00 price target on the stock. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $58.42.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $75,720.00. Following the transaction, the insider now owns 20,698 shares of the company's stock, valued at $1,044,835.04. The trade was a 6.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock valued at $1,286,445 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded up $0.49 during trading hours on Monday, hitting $47.18. The stock had a trading volume of 3,095,845 shares, compared to its average volume of 3,711,898. The stock's fifty day simple moving average is $50.81 and its 200 day simple moving average is $52.60. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 1-year low of $43.43 and a 1-year high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. 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 previous year, the business earned $0.62 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy 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.