246,940 Shares in Etsy Inc $ETSY Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia acquired 246,940 Etsy shares valued at approximately $18.6 million, giving it a 0.26% stake. Institutional investors and hedge funds collectively own 99.53% of Etsy.
• Analyst sentiment has improved, with Bank of America and Rosenblatt initiating or upgrading Etsy to “Buy” and setting $95 price targets. However, the broader consensus remains “Hold,” with an average target near $84.68.
• Etsy’s latest quarter showed a $0.49 adjusted EPS loss and a 0.7% year-over-year revenue decline, while insiders sold roughly 584,967 shares over the past three months—potential concerns given the stock’s P/E ratio near 45.

Bank of Nova Scotia purchased a new position in shares of Etsy Inc (NYSE:ETSY - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 246,940 shares of the company's stock, valued at approximately $18,602,000. Bank of Nova Scotia owned about 0.26% of Etsy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in shares of Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company's stock worth $88,000 after acquiring an additional 158 shares during the period. Alamea Verwaltungs GmbH lifted its position in Etsy by 2.3% during the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company's stock valued at $370,000 after purchasing an additional 169 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Etsy by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company's stock valued at $419,000 after purchasing an additional 180 shares during the last quarter. Blue Trust Inc. boosted its holdings in Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after purchasing an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Etsy by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company's stock valued at $1,250,000 after purchasing an additional 224 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

More Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Bank of America upgraded Etsy from “Neutral” to “Buy” and raised its price target from $88 to $95. The firm said recent growth appears increasingly structural rather than temporary, citing improved execution under CEO Kruti Patel Goyal, stronger mobile engagement and conservative estimates. It also identified potential for more than $1 billion in share buybacks following the Depop sale. Etsy upgraded to buy at BofA on durable growth, buyback potential
• Positive Sentiment: Rosenblatt Securities initiated coverage with a “Buy” rating and a $95 price target, implying meaningful upside from recent trading levels, and subsequently upgraded the shares to “Strong Buy.” The bullish view adds momentum to Etsy’s improving analyst sentiment. Rosenblatt initiates Etsy coverage
• Positive Sentiment: Recent coverage characterizes Etsy’s rebound as potentially durable, while the company’s reported partnership with OpenAI may improve product discovery and marketplace engagement over time. Etsy Partners With OpenAI
• Neutral Sentiment: Goldman Sachs has begun research coverage on Etsy, but no rating or price target was provided in the available report. The broader analyst consensus remains “Hold,” with an average target of approximately $82.73, below the newer $95 targets.
• Negative Sentiment: Director Marla Blow sold 300 shares and Chief Accounting Officer Merilee Buckley sold 405 shares under pre-arranged Rule 10b5-1 plans. The transactions were relatively small, but insider selling can temper investor enthusiasm.
• Negative Sentiment: Etsy’s latest quarterly results included an adjusted EPS loss of $0.49 versus expectations for positive EPS of $0.75, while revenue declined 0.7% year over year. With a P/E ratio near 45, investors may demand continued evidence that the company’s growth recovery can justify its valuation.

Insiders Place Their Bets

In other news, insider Josh Silverman sold 6,294 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $84.00, for a total transaction of $528,696.00. Following the completion of the transaction, the insider directly owned 249,559 shares of the company's stock, valued at $20,962,956. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the transaction, the director owned 421,329 shares in the company, valued at $35,062,999.38. This trade represents a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 584,967 shares of company stock valued at $43,908,631. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ETSY shares. UBS Group lifted their price objective on Etsy from $74.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. B. Riley Financial upped their target price on Etsy from $75.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Loop Capital set a $105.00 target price on Etsy in a report on Thursday. Guggenheim lifted their price target on Etsy from $85.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Truist Financial lifted their price target on Etsy from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $84.68.

Etsy Stock Down 0.4%

NYSE:ETSY opened at $80.69 on Monday. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.97. The stock's 50-day moving average price is $79.76 and its 200-day moving average price is $65.28. The stock has a market capitalization of $7.66 billion, a PE ratio of 45.08, a price-to-earnings-growth ratio of 3.92 and a beta of 1.84.

Etsy (NYSE:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. Sell-side analysts expect that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Etsy Company Profile

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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

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