Assenagon Asset Management S.A. Purchases 523,092 Shares of Etsy Inc $ETSY

Key Points

• Assenagon Asset Management increased its Etsy stake by 48% in the second quarter, purchasing 523,092 shares to own 1.61 million shares valued at approximately $121.5 million. Institutional investors collectively hold 99.53% of Etsy’s outstanding stock.
• Etsy reported a stronger-than-expected second quarter, with revenue of about $668.3 million and adjusted earnings of $1.34 per share. Standalone marketplace GMS grew 7.5% year over year, prompting improved 2026 guidance and additional analyst price-target increases.
• Risks remain despite the positive momentum: Etsy plans to cut roughly 220 jobs, or 12% of its workforce, while insiders have sold significant shares under pre-arranged trading plans. The stock’s consensus rating remains “Hold,” with an average price target of $81.23 versus a recent price of $85.45.

Assenagon Asset Management S.A. raised its position in shares of Etsy Inc (NYSE:ETSY - Free Report) by 48.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,613,333 shares of the company's stock after purchasing an additional 523,092 shares during the period. Assenagon Asset Management S.A. owned approximately 1.70% of Etsy worth $121,532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in shares of Etsy by 10.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company's stock valued at $88,000 after purchasing an additional 158 shares in the last quarter. Alamea Verwaltungs GmbH grew its position in Etsy by 2.3% in the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company's stock worth $370,000 after purchasing an additional 169 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Etsy by 2.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company's stock worth $419,000 after purchasing an additional 180 shares in the last quarter. Blue Trust Inc. increased its stake in Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after buying an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Etsy by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company's stock valued at $1,250,000 after buying an additional 224 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 421,329 shares of the company's stock, valued at $35,062,999.38. This trade represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Merilee Buckley sold 881 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $75.35, for a total transaction of $66,383.35. Following the transaction, the chief accounting officer owned 405 shares of the company's stock, valued at $30,516.75. This trade represents a 68.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 596,310 shares of company stock valued at $44,425,234. Corporate insiders own 2.50% of the company's stock.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Q2 earnings beat expectations: Etsy reported approximately $668.3 million in revenue and adjusted earnings of $1.34 per share, exceeding consensus estimates of $646.1 million and $1.17, respectively. Strength in gross merchandise sales (GMS), Etsy Ads and operating leverage helped drive the results. Etsy Q2 Earnings Beat on GMS and Ads Strength
• Positive Sentiment: Growth and guidance improved: Standalone Etsy GMS growth accelerated to 7.5% year over year, supported by higher order values, increased active buyers, mobile momentum and better buyer retention. Management raised its 2026 growth outlook as search, personalization and marketing initiatives gain traction. Etsy Q2 Earnings Call Lifts Outlook
• Positive Sentiment: Analyst optimism increased: JPMorgan upgraded Etsy to “overweight” and raised its price target to $100, while Needham also lifted its target to $100 with a “buy” rating. The targets reflect expectations that Etsy’s turnaround may continue. JPMorgan Upgrades Etsy
• Positive Sentiment: Large buyback authorized: Etsy approved an additional $2 billion share-repurchase program, which could support earnings per share and return capital to shareholders. Etsy Workforce Reduction and Buyback
• Neutral Sentiment: Analyst views remain mixed: Piper Sandler, Wells Fargo and Cantor Fitzgerald raised price targets but retained neutral or underweight ratings, suggesting that some analysts believe the recent gains already reflect much of the improvement.
• Negative Sentiment: Restructuring and insider sales create risks: Etsy plans to cut about 220 jobs, or 12% of its workforce, to simplify operations and accelerate execution. The CFO and executive chair also sold shares under pre-arranged Rule 10b5-1 plans, which may weigh on sentiment despite having limited predictive value. Etsy Layoffs Amid Restructuring

Etsy Stock Performance

Shares of ETSY opened at $85.45 on Friday. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97. The stock's 50-day simple moving average is $77.45 and its 200 day simple moving average is $63.70. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 47.74, a price-to-earnings-growth ratio of 3.22 and a beta of 1.84.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. President Capital raised Etsy from a "neutral" rating to a "buy" rating and increased their price target for the company from $57.00 to $91.00 in a research report on Thursday, June 25th. Needham & Company LLC boosted their price objective on Etsy from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday. Morgan Stanley set a $73.00 price objective on Etsy in a research note on Friday. Bank of America raised their target price on Etsy from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, May 28th. Finally, Wall Street Zen cut Etsy from a "buy" rating to a "hold" rating in a research note on Sunday, May 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Etsy presently has an average rating of "Hold" and a consensus price target of $81.23.

About Etsy

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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