Kentucky Retirement Systems Insurance Trust Fund Trims Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Etsy, Inc. (NASDAQ:ETSY) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,952 shares of the specialty retailer’s stock after selling 314 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Etsy were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its holdings in shares of Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the period. Larson Financial Group LLC increased its holdings in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the period. Principal Securities Inc. acquired a new position in shares of Etsy in the fourth quarter valued at approximately $47,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Etsy in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity

In other news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $38,882.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.

Etsy Stock Performance

NASDAQ ETSY traded up $1.27 during trading hours on Monday, hitting $63.54. 1,243,660 shares of the company’s stock were exchanged, compared to its average volume of 3,567,643. The firm has a market capitalization of $7.43 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 5.09 and a beta of 2.02. The business’s 50 day moving average is $61.10 and its 200-day moving average is $66.21. Etsy, Inc. has a 12-month low of $55.08 and a 12-month high of $102.81.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Etsy, Inc. will post 2.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Oppenheimer dropped their price objective on Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Canaccord Genuity Group dropped their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus dropped their price objective on Etsy from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Barclays lowered their target price on Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $65.00 target price on shares of Etsy in a report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.75.

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.