Fifth Third Bancorp raised its holdings in Etsy Inc (NYSE:ETSY – Free Report) by 3,302.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 23,613 shares of the company’s stock after buying an additional 22,919 shares during the quarter. Fifth Third Bancorp’s holdings in Etsy were worth $1,180,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in ETSY. Massachusetts Financial Services Co. MA raised its holdings in Etsy by 33.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock worth $10,369,000 after purchasing an additional 47,105 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Etsy by 338.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock valued at $5,738,000 after purchasing an additional 79,888 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Etsy by 717.7% during the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after buying an additional 1,314,071 shares during the period. Hussman Strategic Advisors Inc. increased its position in shares of Etsy by 100.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock valued at $4,657,000 after buying an additional 42,000 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after buying an additional 39,067 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ETSY shares. Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Thursday, May 21st. Susquehanna cut Etsy to a “neutral” rating in a research note on Thursday, May 21st. Citigroup started coverage on Etsy in a report on Thursday, May 21st. They issued an “outperform” rating for the company. President Capital raised Etsy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $57.00 to $91.00 in a research report on Thursday, June 25th. Finally, Truist Financial raised their target price on shares of Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Etsy presently has an average rating of “Hold” and a consensus price target of $75.36.
Etsy News Summary
Here are the key news stories impacting Etsy this week:
- Positive Sentiment: Analysts say Etsy’s app-led loyalty push is boosting engagement, conversion, and buyer lifetime value, while mobile gross merchandise sales growth accelerates and personalized features gain traction. Can Etsy’s Loyalty Initiatives Unlock Higher Buyer Lifetime Value?
- Positive Sentiment: Etsy’s collaboration with Olivia Rodrigo on a handmade Daisy Chain Fields merch and accessory collection highlights stronger brand visibility and could support traffic and marketplace activity. Olivia Rodrigo Creates Adorable Festival Accessory Line for Daisy Chain Fields With 10 Female Etsy Sellers
- Positive Sentiment: Another note argues Etsy has the ingredients to beat estimates again in its next earnings report, reinforcing expectations for solid near-term financial results. Will Etsy (ETSY) Beat Estimates Again in Its Next Earnings Report?
- Neutral Sentiment: One article says Etsy fits an ideal LBO target profile, which may attract takeover speculation but does not by itself change fundamentals. These 4 Stocks Fit the Ideal LBO Target Profile Right Now
- Neutral Sentiment: Coverage also showed Etsy maintaining a consensus “Hold” rating, suggesting analysts remain cautious overall even amid improving sentiment. Etsy Inc (NYSE:ETSY) Given Consensus Recommendation of “Hold” by Analysts
Insiders Place Their Bets
In other news, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.89, for a total value of $9,281,549.70. Following the sale, the insider directly owned 130,694 shares in the company, valued at $9,003,509.66. The trade was a 50.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the sale, the director owned 441,329 shares in the company, valued at $32,830,464.31. This represents a 4.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 658,943 shares of company stock valued at $47,305,981 over the last three months. Corporate insiders own 2.50% of the company’s stock.
Etsy Price Performance
Shares of ETSY opened at $80.74 on Friday. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 3.17 and a beta of 1.83. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.14. The business’s 50 day simple moving average is $73.08 and its 200-day simple moving average is $62.09.
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.
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