Victory Capital Management Inc. Sells 112,999 Shares of Etsy, Inc. $ETSY

Key Points

• Victory Capital Management reduced its stake in Etsy by 13.9%, selling 112,999 shares and ending the quarter with 697,506 shares valued at about $46.3 million.
• Etsy's board authorized a $750 million share repurchase program that could buy up to 14.2% of outstanding shares, signaling management believes the stock may be undervalued.
• Company insiders have sold a total of 116,058 shares (≈$6.58M) in the past 90 days, and multiple analyst cuts have left a MarketBeat consensus rating of Hold with a ~$60.40 target.

Victory Capital Management Inc. lessened its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 697,506 shares of the specialty retailer's stock after selling 112,999 shares during the period. Victory Capital Management Inc. owned about 0.71% of Etsy worth $46,307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Holocene Advisors LP boosted its position in shares of Etsy by 697.4% during the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer's stock worth $268,045,000 after buying an additional 4,673,615 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Etsy by 62.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer's stock worth $185,197,000 after buying an additional 1,416,772 shares in the last quarter. Norges Bank acquired a new stake in Etsy in the 2nd quarter valued at approximately $65,207,000. Artisan Partners Limited Partnership bought a new stake in Etsy in the 2nd quarter valued at approximately $50,033,000. Finally, Allianz Asset Management GmbH lifted its stake in Etsy by 1,648.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 706,679 shares of the specialty retailer's stock valued at $46,916,000 after acquiring an additional 666,253 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: BTIG argues Etsy stands to gain if OpenAI scales back on on‑platform checkout, reducing fears of AI disintermediation and leaving more commerce to marketplaces like Etsy. Etsy has the most to gain from OpenAI's Instant Checkout pivot -- BTIG
• Positive Sentiment: Splitit and Google’s Universal Commerce Protocol (UCP) adoption — built with partners including Etsy — supports agentic commerce standards that could make cross‑platform, AI‑driven purchases easier for Etsy sellers and buyers. Splitit Backs Google's Universal Commerce Protocol (UCP), Advancing Agentic Commerce with Card-Linked Installments
• Positive Sentiment: PrintKK integration gives Etsy sellers access to print‑on‑demand fulfillment across ~200 countries, lowering sellers’ inventory burdens and improving global reach — a direct boost to marketplace supply capabilities. PrintKK Partners with Etsy, Giving Sellers Access to Print-on-Demand Fulfillment Across Nearly 200 Countries
• Positive Sentiment: Analyst commentary (reported broadly) that OpenAI may pull back on embedded checkout is being treated as a relief for marketplaces; that narrative can limit disruption risk to Etsy's core model. Booking Stock, Expedia, DoorDash Jump. Here's What's Behind A 'Relief Rally.'
• Neutral Sentiment: Articles comparing year‑to‑date sector performance show Etsy’s returns versus peers; useful for context but they don’t introduce new company‑specific catalysts. Has Etsy (ETSY) Outpaced Other Retail-Wholesale Stocks This Year?
• Neutral Sentiment: Zacks and other roundup pieces list Etsy as a candidate to play consumer/gig‑economy trends — positive framing but high level. Has Etsy (ETSY) Outpaced Other Retail-Wholesale Stocks This Year?
• Neutral Sentiment: JD.com’s quarterly results and investment focus are industry noise (e‑commerce macro context) but not a direct driver for Etsy. JD's Q4 Earnings Surpass Estimates, Revenues Increase Y/Y
• Negative Sentiment: Insider selling: Director Charles Andrew Ballard sold 1,790 shares (~30.9% reduction in his holding), a visible insider disposition that can spook investors despite being a relatively small dollar amount. Insider Selling: Etsy NASDAQ: ETSY Director Sells 1,790 Shares of Stock
• Negative Sentiment: Recent analyst cuts and reduced price targets (UBS, Cantor Fitzgerald, Morgan Stanley, Deutsche Bank) weigh on sentiment; MarketBeat notes a consensus "Hold" with a ~$60.40 target. Etsy Stock Report and Analyst Notes

Insider Activity

In other Etsy news, CAO Merilee Buckley sold 5,636 shares of the business's stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $58.45, for a total transaction of $329,424.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Josh Silverman sold 21,666 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $53.26, for a total value of $1,153,931.16. Following the completion of the sale, the insider owned 90,661 shares in the company, valued at $4,828,604.86. This represents a 19.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 116,058 shares of company stock valued at $6,576,362. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Etsy from $52.00 to $47.00 and set an "underweight" rating for the company in a research note on Friday, February 20th. UBS Group reduced their target price on shares of Etsy from $74.00 to $53.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Jefferies Financial Group lowered their price target on shares of Etsy from $62.00 to $55.00 and set a "hold" rating on the stock in a research note on Thursday, February 12th. Canaccord Genuity Group cut their price target on shares of Etsy from $80.00 to $72.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Finally, Stifel Nicolaus reduced their price objective on shares of Etsy from $62.00 to $55.00 and set a "hold" rating for the company in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Etsy presently has a consensus rating of "Hold" and a consensus target price of $60.40.

Etsy Trading Down 0.4%

Shares of ETSY opened at $56.42 on Friday. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 10.65 and a beta of 1.74. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $76.51. The company's fifty day simple moving average is $55.66 and its 200 day simple moving average is $58.83.

Etsy announced that its board has authorized a share repurchase plan on Thursday, December 18th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 14.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Etsy Profile

Etsy, Inc NASDAQ: ETSY operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy's revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.

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