Teachers Retirement System of The State of Kentucky Purchases 6,766 Shares of Etsy, Inc. (NASDAQ:ETSY)

Teachers Retirement System of The State of Kentucky lifted its holdings in Etsy, Inc. (NASDAQ:ETSY) by 32.0% during the 3rd quarter, Holdings Channel reports. The fund owned 27,911 shares of the specialty retailer’s stock after acquiring an additional 6,766 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Etsy were worth $1,550,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ETSY. Blue Trust Inc. increased its position in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. Meridian Management Co. raised its position in Etsy by 0.4% in the 2nd quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock worth $3,740,000 after purchasing an additional 241 shares during the last quarter. UMB Bank n.a. lifted its holdings in Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Etsy by 3.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,915 shares of the specialty retailer’s stock valued at $526,000 after buying an additional 316 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Etsy by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 12,519 shares of the specialty retailer’s stock valued at $738,000 after buying an additional 367 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Insider Transactions at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.15, for a total value of $39,862.50. Following the transaction, the insider now owns 25,121 shares of the company’s stock, valued at $1,335,181.15. The trade was a 2.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,069 shares of company stock valued at $261,888 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Etsy Price Performance

ETSY opened at $60.97 on Wednesday. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 6.96 and a beta of 1.99. The business’s 50-day moving average price is $53.04 and its two-hundred day moving average price is $55.98. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $89.58.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. During the same period in the prior year, the business posted $0.64 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current fiscal year.

Etsy declared that its board has authorized a share repurchase program on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Etsy in a report on Monday, October 7th. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research report on Monday. Wedbush cut their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus lowered their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, Moffett Nathanson increased their price target on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $63.17.

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.