Arrowstreet Capital Limited Partnership Sells 242,927 Shares of Etsy Inc $ETSY

Arrowstreet Capital Limited Partnership trimmed its holdings in Etsy Inc (NYSE:ETSY) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,165,603 shares of the company’s stock after selling 242,927 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.19% of Etsy worth $120,061,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ETSY. Integrated Wealth Concepts LLC raised its holdings in shares of Etsy by 19.1% in the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock valued at $282,000 after buying an additional 961 shares during the last quarter. Empowered Funds LLC boosted its holdings in Etsy by 55.5% in the first quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after acquiring an additional 3,451 shares during the last quarter. Woodline Partners LP bought a new position in Etsy in the first quarter valued at about $2,181,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Etsy by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock valued at $180,000 after acquiring an additional 906 shares during the last quarter. Finally, M&T Bank Corp bought a new position in Etsy in the second quarter valued at about $232,000. 99.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ETSY. Needham & Company LLC raised their price target on Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Raymond James Financial cut Etsy from an “outperform” rating to an “outperform” rating in a research note on Thursday, May 21st. Canaccord Genuity Group lifted their price objective on shares of Etsy from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Arete Research set a $76.00 target price on shares of Etsy and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Etsy from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $71.00.

Etsy Price Performance

NYSE:ETSY opened at $72.28 on Tuesday. The stock has a market capitalization of $6.86 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 2.87 and a beta of 1.88. The business’s 50-day simple moving average is $62.48 and its 200-day simple moving average is $57.30. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $76.51.

Insider Transactions at Etsy

In other Etsy news, CFO Charles Baker sold 2,030 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $63.50, for a total value of $128,905.00. Following the sale, the chief financial officer owned 6,913 shares in the company, valued at approximately $438,975.50. The trade was a 22.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Richard Edward Colburn III sold 4,776 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $65.09, for a total value of $310,869.84. Following the completion of the sale, the insider owned 6,503 shares in the company, valued at $423,280.27. The trade was a 42.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 451,509 shares of company stock worth $29,518,662. 2.50% of the stock is currently owned by 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.