Vestcor Inc Acquires Shares of 4,223 Etsy, Inc. (NASDAQ:ETSY)

Vestcor Inc acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,223 shares of the specialty retailer’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also bought and sold shares of ETSY. Lindbrook Capital LLC grew its holdings in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the period. Kestra Investment Management LLC bought a new position in Etsy during the fourth quarter valued at $38,000. Versant Capital Management Inc grew its holdings in 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. Blue Trust Inc. grew its holdings in Etsy by 95.1% during 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 fourth 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 during the period. 99.53% of the stock is owned by institutional investors.

Etsy Stock Down 3.5 %

NASDAQ ETSY opened at $44.66 on Wednesday. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.57 and a beta of 2.23. The stock’s 50-day simple moving average is $52.06 and its two-hundred day simple moving average is $53.07. Etsy, Inc. has a twelve month low of $43.75 and a twelve month high of $71.72.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ETSY shares. Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and cut their price target for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Truist Financial cut their price target on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Etsy in a report on Thursday, February 20th. Finally, Wells Fargo & Company raised their price target on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.78.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total value 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 $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,666 shares of company stock worth $1,286,445. Company insiders own 2.60% of the company’s stock.

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.