Virginia Retirement Systems ET AL Boosts Holdings in Etsy Inc (NASDAQ:ETSY)

Virginia Retirement Systems ET AL increased its stake in shares of Etsy Inc (NASDAQ:ETSY) by 212.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,300 shares of the specialty retailer’s stock after buying an additional 20,600 shares during the period. Virginia Retirement Systems ET AL’s holdings in Etsy were worth $1,860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Trust Advisors LP increased its holdings in Etsy by 1,054.2% during the first quarter. First Trust Advisors LP now owns 2,426,537 shares of the specialty retailer’s stock worth $163,112,000 after buying an additional 2,216,303 shares during the last quarter. FMR LLC increased its holdings in Etsy by 68.3% during the fourth quarter. FMR LLC now owns 1,882,900 shares of the specialty retailer’s stock worth $89,570,000 after buying an additional 763,816 shares during the last quarter. Northern Trust Corp increased its holdings in Etsy by 2.0% during the first quarter. Northern Trust Corp now owns 1,520,823 shares of the specialty retailer’s stock worth $102,230,000 after buying an additional 30,357 shares during the last quarter. Geode Capital Management LLC increased its holdings in Etsy by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 1,498,337 shares of the specialty retailer’s stock worth $71,275,000 after buying an additional 104,042 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in Etsy by 16.1% during the first quarter. Eagle Asset Management Inc. now owns 1,074,077 shares of the specialty retailer’s stock worth $72,199,000 after buying an additional 148,637 shares during the last quarter. Institutional investors and hedge funds own 95.50% of the company’s stock.

Shares of ETSY traded down $1.61 during trading hours on Friday, hitting $56.43. The company’s stock had a trading volume of 1,882,549 shares, compared to its average volume of 2,703,071. The company has a market cap of $6.75 billion, a P/E ratio of 92.51, a price-to-earnings-growth ratio of 3.51 and a beta of 0.92. The company has a current ratio of 4.47, a quick ratio of 4.87 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $64.09. Etsy Inc has a 52-week low of $38.02 and a 52-week high of $73.35.

Etsy (NASDAQ:ETSY) last posted its earnings results on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $181.10 million during the quarter, compared to the consensus estimate of $183.28 million. Etsy had a net margin of 15.83% and a return on equity of 26.77%. The company’s revenue was up 36.8% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. As a group, sell-side analysts anticipate that Etsy Inc will post 0.78 EPS for the current year.

In other news, insider Michael T. Fisher sold 5,208 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $55.30, for a total value of $288,002.40. Following the completion of the transaction, the insider now directly owns 22,580 shares in the company, valued at $1,248,674. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Goyal Kruti Patel sold 4,505 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $61.80, for a total transaction of $278,409.00. Following the completion of the transaction, the senior vice president now owns 16,389 shares of the company’s stock, valued at $1,012,840.20. The disclosure for this sale can be found here. Insiders sold 33,572 shares of company stock valued at $2,046,791 over the last 90 days. 3.00% of the stock is owned by company insiders.

ETSY has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Needham & Company LLC initiated coverage on shares of Etsy in a report on Monday, July 1st. They set a “buy” rating and a $75.00 price objective for the company. Roth Capital raised their price objective on shares of Etsy from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus raised their price objective on shares of Etsy from $62.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $73.13.

Etsy Company Profile

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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