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

Oregon Public Employees Retirement Fund lessened its stake in Etsy, Inc. (NASDAQ:ETSY) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,438 shares of the specialty retailer’s stock after selling 562 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Etsy were worth $1,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETSY. Blue Trust Inc. boosted its stake in shares of Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares in the last quarter. Denver PWM LLC boosted its stake in shares of Etsy by 36.1% in 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. Gagnon Securities LLC boosted its stake in shares of Etsy by 7.9% in the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after purchasing an additional 376 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Etsy by 11.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock valued at $239,000 after purchasing an additional 448 shares in the last quarter. Finally, Banque Pictet & Cie SA boosted its stake in shares of Etsy by 0.4% in the 4th quarter. Banque Pictet & Cie SA now owns 137,790 shares of the specialty retailer’s stock valued at $7,288,000 after purchasing an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

ETSY opened at $51.19 on Friday. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.57 and a beta of 2.00. The company’s 50 day moving average is $53.77 and its 200 day moving average is $53.72. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $73.48.

Etsy (NASDAQ:ETSY) last released 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. The firm had revenue of $852.16 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. As a group, analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

ETSY has been the subject of a number of research reports. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Canaccord Genuity Group dropped their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald dropped their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. Finally, Morgan Stanley dropped their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.78.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of Etsy 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 directly owns 5,004 shares of the company’s stock, valued at $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. 2.60% of the stock is currently owned by company insiders.

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.