Krilogy Financial LLC Reduces Stake in Etsy Inc $ETSY

Krilogy Financial LLC cut its stake in Etsy Inc (NYSE:ETSY) by 49.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,228 shares of the company’s stock after selling 6,935 shares during the quarter. Krilogy Financial LLC’s holdings in Etsy were worth $361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ETSY. AQR Capital Management LLC grew its stake in shares of Etsy by 40.1% in 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. Lone Pine Capital LLC purchased a new position in Etsy in the third quarter worth approximately $257,614,000. Van ECK Associates Corp increased its stake in Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after acquiring an additional 39,067 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Etsy by 3.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock valued at $89,338,000 after purchasing an additional 59,123 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Etsy by 717.7% in the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after purchasing an additional 1,314,071 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Stock Down 0.0%

NYSE:ETSY opened at $78.03 on Monday. The company has a fifty day simple moving average of $66.20 and a two-hundred day simple moving average of $58.64. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 3.11 and a beta of 1.88. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $79.90.

Insider Buying and Selling

In other Etsy news, CFO Charles Baker sold 2,030 shares of the stock in a transaction dated 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 of the company’s stock, valued at $438,975.50. This trade represents a 22.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Etsy stock in a transaction dated 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 transaction, the insider owned 6,503 shares of the company’s stock, valued at $423,280.27. The trade was a 42.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 651,377 shares of company stock worth $44,720,839 in the last quarter. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on Etsy in a research report on Thursday, May 21st. They set a “buy” rating for the company. Wells Fargo & Company boosted their price target on shares of Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Argus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Thursday, May 21st. Barclays boosted their target price on Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, UBS Group upgraded Etsy from a “neutral” rating to a “neutral” rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $71.80.

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.