43,800 Shares in Etsy Inc $ETSY Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in Etsy Inc (NYSE:ETSY) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,800 shares of the company’s stock, valued at approximately $2,189,000.

Several other hedge funds have also bought and sold shares of ETSY. AQR Capital Management LLC raised its position in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after purchasing an additional 1,177,301 shares during the period. Lone Pine Capital LLC purchased a new position in shares of Etsy in the third quarter worth about $257,614,000. Van ECK Associates Corp increased its holdings in shares of Etsy by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after buying an additional 39,067 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Etsy by 3.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock valued at $89,338,000 after acquiring an additional 59,123 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Etsy by 717.7% during the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after acquiring an additional 1,314,071 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Etsy from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. Arete Research set a $76.00 price objective on shares of Etsy and gave the company a “buy” rating in a research note on Wednesday, May 20th. UBS Group upgraded shares of Etsy from a “neutral” rating to a “neutral” rating in a report on Thursday, May 21st. Truist Financial raised their target price on Etsy from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Jefferies Financial Group downgraded Etsy from a “hold” rating to a “hold” rating in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.80.

Etsy Trading Up 2.1%

Shares of Etsy stock opened at $79.69 on Tuesday. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $80.41. The firm has a market capitalization of $7.56 billion, a P/E ratio of 33.20, a P/E/G ratio of 3.11 and a beta of 1.88. The business has a fifty day simple moving average of $66.60 and a two-hundred day simple moving average of $58.81.

Insiders Place Their Bets

In other news, insider Josh Silverman sold 134,730 shares of Etsy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70. Following the completion of the transaction, the insider owned 130,694 shares of the company’s stock, valued at $9,003,509.66. The trade was a 50.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $61.63, for a total transaction of $1,232,600.00. Following the completion of the transaction, the director directly owned 481,329 shares of the company’s stock, valued at $29,664,306.27. This trade represents a 3.99% decrease in their ownership of the stock. 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 651,377 shares of company stock valued at $44,720,839 in the last quarter. 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.