Virginia Retirement Systems ET AL Buys 99,200 Shares of Etsy, Inc. (NASDAQ:ETSY)

Virginia Retirement Systems ET AL increased its stake in shares of Etsy, Inc. (NASDAQ:ETSYGet Rating) by 769.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,100 shares of the specialty retailer’s stock after purchasing an additional 99,200 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Etsy were worth $13,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETSY. Future Financial Wealth Managment LLC bought a new stake in shares of Etsy during the fourth quarter valued at approximately $26,000. CVA Family Office LLC bought a new position in Etsy in the fourth quarter valued at approximately $26,000. Rinkey Investments bought a new position in Etsy in the fourth quarter valued at approximately $26,000. American National Bank boosted its stake in Etsy by 71.3% in the first quarter. American National Bank now owns 209 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Finally, Covestor Ltd bought a new position in Etsy in the fourth quarter valued at approximately $29,000. 89.93% of the stock is currently owned by institutional investors and hedge funds.

ETSY has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Etsy from $154.00 to $113.00 in a research note on Thursday, May 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Etsy from $120.00 to $100.00 in a research note on Friday, May 6th. UBS Group reduced their price objective on shares of Etsy from $180.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, June 3rd. Loop Capital reduced their price objective on shares of Etsy from $140.00 to $115.00 in a research note on Thursday, April 21st. Finally, Stifel Nicolaus cut their target price on shares of Etsy from $160.00 to $130.00 in a report on Thursday, May 5th. One 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’s stock. According to MarketBeat.com, Etsy presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.37.

Shares of ETSY stock opened at $79.81 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 3.52. Etsy, Inc. has a 1 year low of $67.01 and a 1 year high of $307.75. The firm’s fifty day moving average price is $82.82 and its two-hundred day moving average price is $128.99. The firm has a market capitalization of $10.15 billion, a P/E ratio of 26.52, a PEG ratio of 1.66 and a beta of 1.76.

Etsy (NASDAQ:ETSYGet Rating) last issued its quarterly 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 firm had revenue of $579.30 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. As a group, equities research analysts forecast that Etsy, Inc. will post 2 EPS for the current fiscal year.

In other news, CAO Merilee Buckley sold 655 shares of Etsy stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $132.54, for a total value of $86,813.70. Following the completion of the transaction, the chief accounting officer now owns 171 shares of the company’s stock, valued at approximately $22,664.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction dated Wednesday, April 13th. The shares were sold at an average price of $116.54, for a total transaction of $2,429,859.00. Following the completion of the transaction, the chief executive officer now directly owns 102,707 shares of the company’s stock, valued at approximately $11,969,473.78. The disclosure for this sale can be found here. Insiders sold a total of 107,228 shares of company stock worth $9,624,096 over the last quarter. Company insiders own 3.10% of the company’s stock.

About Etsy (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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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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