AXQ Capital LP Makes New Investment in Etsy Inc $ETSY

AXQ Capital LP bought a new stake in shares of Etsy Inc (NYSE:ETSY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,127 shares of the company’s stock, valued at approximately $894,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ETSY. Public Sector Pension Investment Board grew its holdings in Etsy by 21.2% in the third quarter. Public Sector Pension Investment Board now owns 430,824 shares of the company’s stock worth $28,602,000 after purchasing an additional 75,295 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Etsy by 1,648.1% during the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock valued at $46,916,000 after purchasing an additional 666,253 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Etsy by 33.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock valued at $10,369,000 after purchasing an additional 47,105 shares during the last quarter. Lone Pine Capital LLC bought a new stake in shares of Etsy in the 3rd quarter worth approximately $257,614,000. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Etsy by 338.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock worth $5,738,000 after buying an additional 79,888 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 0.8%

Shares of ETSY opened at $69.58 on Wednesday. The firm has a fifty day simple moving average of $58.66 and a two-hundred day simple moving average of $56.34. The firm has a market cap of $6.60 billion, a PE ratio of 28.99, a P/E/G ratio of 2.85 and a beta of 1.88. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $76.51.

Analyst Ratings Changes

ETSY has been the topic of several analyst reports. Citigroup began coverage on Etsy in a report on Thursday, May 21st. They issued an “outperform” rating on the stock. Sanford C. Bernstein lifted their price target on Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. B. Riley Financial cut shares of Etsy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $70.00 to $75.00 in a research note on Thursday, April 30th. Truist Financial increased their price objective on shares of Etsy from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus decreased their target price on shares of Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a report on Friday, February 20th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.88.

Insider Activity at Etsy

In other Etsy news, insider Josh Silverman sold 88,350 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $64.18, for a total transaction of $5,670,303.00. Following the completion of the sale, the insider directly owned 130,694 shares in the company, valued at $8,387,940.92. The trade was a 40.33% decrease in their position. The transaction 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, CAO Merilee Buckley sold 1,993 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $52.92, for a total transaction of $105,469.56. Following the sale, the chief accounting officer directly owned 809 shares of the company’s stock, valued at $42,812.28. The trade was a 71.13% 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 have sold 296,779 shares of company stock valued at $18,861,313 in the last 90 days. 2.50% of the stock is owned by company insiders.

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.