California Public Employees Retirement System grew its holdings in shares of Etsy Inc (NASDAQ:ETSY) by 17.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,161 shares of the specialty retailer’s stock after purchasing an additional 40,781 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Etsy worth $15,490,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ETSY. Nuveen Asset Management LLC boosted its position in Etsy by 1,516.5% during the second quarter. Nuveen Asset Management LLC now owns 811,879 shares of the specialty retailer’s stock worth $49,824,000 after purchasing an additional 761,653 shares during the period. Jennison Associates LLC lifted its holdings in shares of Etsy by 70.1% in the second quarter. Jennison Associates LLC now owns 953,261 shares of the specialty retailer’s stock worth $58,502,000 after buying an additional 392,958 shares in the last quarter. Paloma Partners Management Co lifted its holdings in shares of Etsy by 2,345.8% in the second quarter. Paloma Partners Management Co now owns 356,547 shares of the specialty retailer’s stock worth $21,882,000 after buying an additional 341,969 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Etsy by 22.0% in the second quarter. Invesco Ltd. now owns 1,476,169 shares of the specialty retailer’s stock worth $90,593,000 after buying an additional 266,462 shares in the last quarter. Finally, DAVENPORT & Co LLC purchased a new stake in shares of Etsy in the third quarter worth about $12,182,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Shares of ETSY opened at $41.99 on Friday. The company has a market capitalization of $5.12 billion, a P/E ratio of 68.84, a P/E/G ratio of 3.15 and a beta of 0.97. The firm’s 50 day simple moving average is $54.93 and its 200 day simple moving average is $59.94. Etsy Inc has a 1-year low of $41.42 and a 1-year high of $73.35. The company has a debt-to-equity ratio of 2.14, a current ratio of 6.11 and a quick ratio of 6.11.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $197.95 million for the quarter, compared to analysts’ expectations of $193.31 million. Etsy had a net margin of 14.14% and a return on equity of 25.62%. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, equities analysts anticipate that Etsy Inc will post 0.67 earnings per share for the current year.

A number of equities research analysts have recently issued reports on the stock. KeyCorp reissued an “overweight” rating and issued a $78.00 price target (down from $90.00) on shares of Etsy in a report on Thursday, October 31st. Stifel Nicolaus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Wednesday, August 21st. ValuEngine raised shares of Etsy from a “sell” rating to a “hold” rating in a report on Friday. Morgan Stanley lowered their price target on shares of Etsy from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Canaccord Genuity lowered their price target on shares of Etsy from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $67.11.

In other Etsy news, CTO Michael T. Fisher sold 3,289 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.21, for a total transaction of $175,007.69. Following the completion of the transaction, the chief technology officer now owns 24,403 shares of the company’s stock, valued at $1,298,483.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Michael T. Fisher sold 5,194 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $50.00, for a total value of $259,700.00. Following the transaction, the chief technology officer now directly owns 17,387 shares of the company’s stock, valued at approximately $869,350. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,460 shares of company stock worth $928,789. 3.00% of the stock is currently owned by company insiders.

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.

See Also: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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