Bank of Nova Scotia Sells 168,646 Shares of Etsy Inc $ETSY

Bank of Nova Scotia trimmed its position in Etsy Inc (NYSE:ETSY) by 44.3% during the first quarter, HoldingsChannel.com reports. The fund owned 211,917 shares of the company’s stock after selling 168,646 shares during the quarter. Bank of Nova Scotia’s holdings in Etsy were worth $10,592,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Etsy by 717.7% during the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after buying an additional 1,314,071 shares in the last quarter. AQR Capital Management LLC boosted its stake in Etsy by 40.1% in the fourth 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 in the last quarter. Norges Bank bought a new position in Etsy in the fourth quarter valued at about $33,903,000. Deutsche Bank AG grew its position in Etsy by 68.8% in the fourth quarter. Deutsche Bank AG now owns 1,378,170 shares of the company’s stock valued at $76,406,000 after acquiring an additional 561,487 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Etsy in the third quarter valued at about $31,793,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Up 0.1%

NYSE ETSY opened at $80.74 on Monday. The firm has a market capitalization of $7.66 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 3.16 and a beta of 1.83. The business’s 50-day moving average price is $73.08 and its two-hundred day moving average price is $62.12. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.14.

Insider Buying and Selling

In related news, Director Frederick R. Wilson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 130,694 shares in the company, valued at $9,003,509.66. The trade was a 50.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 658,943 shares of company stock worth $47,305,981 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Key Headlines Impacting Etsy

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore set a $72.00 target price on shares of Etsy in a report on Wednesday, April 29th. Canaccord Genuity Group lifted their price target on shares of Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Raymond James Financial upped their price objective on shares of Etsy from $75.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Roth Capital began coverage on shares of Etsy in a research note on Thursday, May 21st. They issued a “buy” rating for the company. Finally, Wedbush initiated coverage on shares of Etsy in a research report on Thursday, July 16th. They issued a “neutral” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.36.

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.