Canada Pension Plan Investment Board Buys 107,600 Shares of Etsy, Inc. (NASDAQ:ETSY)

Canada Pension Plan Investment Board grew its position in Etsy, Inc. (NASDAQ:ETSY) by 51.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 318,400 shares of the specialty retailer’s stock after purchasing an additional 107,600 shares during the period. Canada Pension Plan Investment Board owned about 0.27% of Etsy worth $21,880,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ETSY. Vanguard Group Inc. grew its stake in Etsy by 0.7% during the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock worth $929,695,000 after buying an additional 91,900 shares during the last quarter. Capital International Investors raised its stake in shares of Etsy by 0.6% during the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after buying an additional 45,305 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Etsy by 9.2% in the first quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock valued at $346,528,000 after buying an additional 425,620 shares during the period. Bares Capital Management Inc. raised its position in shares of Etsy by 0.9% during the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock valued at $330,711,000 after acquiring an additional 36,623 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Etsy by 2.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after purchasing an additional 30,561 shares during the period. Institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wedbush reissued a “neutral” rating and issued a $65.00 target price on shares of Etsy in a research note on Monday, July 22nd. Morgan Stanley cut their price target on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Canaccord Genuity Group decreased their price objective on shares of Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Citigroup lowered their target price on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Truist Financial lifted their price target on shares of Etsy from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.00.

Etsy Trading Up 3.0 %

Shares of Etsy stock traded up $1.84 on Friday, reaching $62.27. 3,003,317 shares of the company were exchanged, compared to its average volume of 2,881,950. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 4.96 and a beta of 2.02. Etsy, Inc. has a one year low of $55.08 and a one year high of $102.81. The company has a 50-day moving average of $61.10 and a 200 day moving average of $66.35.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Analysts predict that Etsy, Inc. will post 2.47 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

About Etsy

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.