Principal Financial Group Inc. lowered its position in Etsy, Inc. (NASDAQ:ETSY) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171,747 shares of the specialty retailer’s stock after selling 3,155 shares during the period. Principal Financial Group Inc. owned 0.14% of Etsy worth $30,556,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Credit Agricole S A bought a new position in shares of Etsy in the fourth quarter valued at approximately $25,000. Salem Investment Counselors Inc. bought a new position in Etsy in the 4th quarter worth approximately $27,000. Associated Banc Corp raised its position in Etsy by 450.0% in the 4th quarter. Associated Banc Corp now owns 165 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in Etsy by 45.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 174 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 54 shares during the last quarter. Finally, Berman Capital Advisors LLC raised its position in Etsy by 150.0% in the 4th quarter. Berman Capital Advisors LLC now owns 185 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 111 shares during the last quarter. Institutional investors own 87.69% of the company’s stock.
ETSY has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Etsy from $93.00 to $123.00 and gave the stock an “underweight” rating in a report on Thursday, March 4th. Roth Capital lifted their target price on shares of Etsy from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, March 4th. Evercore ISI initiated coverage on shares of Etsy in a report on Monday. They set an “outperform” rating and a $265.00 target price for the company. Oppenheimer lifted their target price on shares of Etsy from $160.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 26th. Finally, DA Davidson lifted their target price on shares of Etsy from $167.00 to $234.00 and gave the stock a “buy” rating in a report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the company. Etsy presently has a consensus rating of “Buy” and an average target price of $207.09.
Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Thursday, February 25th. The specialty retailer reported $1.08 EPS for the quarter, topping the consensus estimate of $0.60 by $0.48. Etsy had a net margin of 16.83% and a return on equity of 46.30%. On average, analysts anticipate that Etsy, Inc. will post 2.12 earnings per share for the current fiscal year.
In other news, Director Melissa Reiff sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 12th. The shares were sold at an average price of $200.00, for a total value of $400,000.00. Following the sale, the director now directly owns 3,434 shares of the company’s stock, valued at approximately $686,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Ryan M. Scott sold 6,146 shares of the stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $198.44, for a total transaction of $1,219,612.24. Following the completion of the transaction, the chief marketing officer now directly owns 7,983 shares in the company, valued at $1,584,146.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,965 shares of company stock worth $13,277,770. 3.80% of the stock is owned by insiders.
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 online market places include Etsy.com and Reverb.com. The company offers approximately 85 million items in its various retail categories to buyers.
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