Virginia Retirement Systems ET AL raised its stake in Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 769.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,100 shares of the specialty retailer’s stock after acquiring an additional 99,200 shares during the period. Virginia Retirement Systems ET AL owned 0.09% of Etsy worth $13,932,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Redwood Investments LLC boosted its stake in Etsy by 43.3% in the first quarter. Redwood Investments LLC now owns 8,556 shares of the specialty retailer’s stock valued at $1,063,000 after acquiring an additional 2,587 shares during the period. Elevated Capital Advisors LLC acquired a new position in Etsy in the first quarter valued at approximately $747,000. Retirement Systems of Alabama boosted its stake in Etsy by 34.0% in the first quarter. Retirement Systems of Alabama now owns 96,033 shares of the specialty retailer’s stock valued at $11,935,000 after acquiring an additional 24,361 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Etsy by 12.2% during the first quarter. Koshinski Asset Management Inc. now owns 2,174 shares of the specialty retailer’s stock worth $270,000 after buying an additional 237 shares during the period. Finally, Congress Asset Management Co. MA boosted its position in shares of Etsy by 11.3% during the first quarter. Congress Asset Management Co. MA now owns 807,081 shares of the specialty retailer’s stock worth $100,304,000 after buying an additional 81,713 shares during the period. Institutional investors own 89.93% of the company’s stock.
Several equities analysts have recently issued reports on ETSY shares. Stifel Nicolaus reduced their price objective on Etsy from $160.00 to $130.00 in a research report on Thursday, May 5th. Needham & Company LLC downgraded Etsy from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Wedbush reduced their price objective on Etsy from $185.00 to $124.00 in a research report on Thursday, May 5th. Sanford C. Bernstein assumed coverage on Etsy in a research report on Monday, May 23rd. They set an “outperform” rating and a $105.00 price objective for the company. Finally, Oppenheimer dropped their target price on Etsy from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.37.
Shares of NASDAQ:ETSY opened at $79.81 on Friday. The company’s fifty day moving average is $82.82 and its two-hundred day moving average is $128.99. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 3.52. Etsy, Inc. has a 12-month low of $67.01 and a 12-month high of $307.75. The company has a market cap of $10.15 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.76.
Etsy (NASDAQ:ETSY – Get Rating) last announced its earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. Etsy had a net margin of 18.49% and a return on equity of 73.57%. The company had revenue of $579.30 million for the quarter, compared to the consensus estimate of $574.71 million. During the same period in the previous year, the business earned $1.00 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Etsy, Inc. will post 2 earnings per share for the current year.
Etsy Profile (Get Rating)
Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.
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