GSA Capital Partners LLP Takes $2.77 Million Position in Etsy Inc $ETSY

Key Points

• GSA Capital Partners initiated a $2.77 million position in Etsy during the second quarter by purchasing 36,840 shares. Institutional investors collectively own 99.53% of Etsy’s outstanding stock.
• Analyst sentiment remains mixed: Etsy has a consensus “Hold” rating and an average price target of $81.50, although one firm upgraded the stock to “Buy” with a $91 target.
• Etsy shares opened at $80.07, near their 52-week high of $87.97. Insiders sold 604,262 shares worth approximately $45.1 million over the latest quarter, while insiders own 2.5% of the company.

GSA Capital Partners LLP bought a new stake in shares of Etsy Inc (NYSE:ETSY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 36,840 shares of the company's stock, valued at approximately $2,775,000.

A number of other institutional investors have also recently added to or reduced their stakes in ETSY. Renaissance Technologies LLC boosted its position in shares of Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company's stock worth $297,991,000 after buying an additional 594,768 shares during the period. AQR Capital Management LLC raised its holdings in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company's stock valued at $227,785,000 after buying an additional 1,177,301 shares during the period. Van ECK Associates Corp raised its holdings in shares of Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company's stock valued at $207,022,000 after buying an additional 39,067 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company's stock worth $163,841,000 after acquiring an additional 1,112,520 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Etsy by 48.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company's stock worth $121,532,000 after acquiring an additional 523,092 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETSY has been the subject of several recent research reports. President Capital raised shares of Etsy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $57.00 to $91.00 in a research report on Thursday, June 25th. Wedbush began coverage on shares of Etsy in a research report on Thursday, July 16th. They set a "neutral" rating and a $80.00 target price on the stock. UBS Group upped their target price on shares of Etsy from $74.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Piper Sandler raised their price target on shares of Etsy from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Finally, Jefferies Financial Group lifted their price target on shares of Etsy from $62.00 to $80.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.50.

Insider Transactions at Etsy

In related news, Director Frederick R. Wilson sold 20,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total transaction of $1,664,400.00. Following the transaction, the director directly owned 421,329 shares in the company, valued at $35,062,999.38. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of Etsy stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the completion of the transaction, the insider directly owned 130,694 shares of the company's stock, valued at approximately $9,003,509.66. This represents a 50.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 604,262 shares of company stock valued at $45,085,166 over the last quarter. Insiders own 2.50% of the company's stock.

Etsy Stock Performance

ETSY opened at $80.07 on Friday. The company has a market capitalization of $7.60 billion, a P/E ratio of 44.73, a PEG ratio of 5.47 and a beta of 1.84. The company has a 50-day moving average of $78.65 and a 200-day moving average of $64.37. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97.

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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