BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,253 shares of the specialty retailer’s stock after selling 1,217 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Etsy were worth $4,872,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors increased its stake in Etsy by 17.8% in the 3rd quarter. Capital World Investors now owns 3,042,393 shares of the specialty retailer’s stock valued at $632,696,000 after purchasing an additional 460,568 shares in the last quarter. Flossbach Von Storch AG increased its position in Etsy by 19.6% during the fourth quarter. Flossbach Von Storch AG now owns 2,618,168 shares of the specialty retailer’s stock worth $573,222,000 after buying an additional 428,777 shares in the last quarter. Geode Capital Management LLC increased its position in Etsy by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 2,416,793 shares of the specialty retailer’s stock worth $527,854,000 after buying an additional 94,302 shares in the last quarter. Principal Financial Group Inc. increased its position in Etsy by 16.4% during the fourth quarter. Principal Financial Group Inc. now owns 2,331,444 shares of the specialty retailer’s stock worth $509,716,000 after buying an additional 329,322 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in Etsy by 11.4% during the third quarter. Granahan Investment Management Inc. MA now owns 664,230 shares of the specialty retailer’s stock worth $138,133,000 after buying an additional 68,008 shares in the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on ETSY. Sanford C. Bernstein began coverage on Etsy in a research report on Monday. They set an “outperform” rating and a $105.00 price target for the company. UBS Group raised Etsy from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $215.00 to $180.00 in a research report on Wednesday, February 2nd. Stifel Nicolaus decreased their price objective on Etsy from $160.00 to $130.00 in a report on Thursday, May 5th. Loop Capital decreased their price objective on Etsy from $140.00 to $115.00 in a report on Thursday, April 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Etsy in a report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $174.58.
NASDAQ:ETSY opened at $71.59 on Thursday. The firm has a market capitalization of $9.10 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.44 and a beta of 1.75. The stock has a 50 day moving average of $108.96 and a 200-day moving average of $163.44. Etsy, Inc. has a 52 week low of $68.40 and a 52 week high of $307.75. 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 (NASDAQ:ETSY – Get Rating) last posted its earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $579.30 million during the quarter, compared to analyst estimates of $574.71 million. Etsy had a return on equity of 73.57% and a net margin of 18.49%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 earnings per share. As a group, analysts predict that Etsy, Inc. will post 2.18 EPS for the current fiscal year.
Etsy Company 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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