Aigen Investment Management LP Makes New Investment in Etsy Inc $ETSY

Aigen Investment Management LP purchased a new position in Etsy Inc (NYSE:ETSY) during the 4th quarter, HoldingsChannel reports. The firm purchased 13,599 shares of the company’s stock, valued at approximately $754,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETSY. Integrated Wealth Concepts LLC increased its stake 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 worth $282,000 after acquiring an additional 961 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Etsy by 55.5% during the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after purchasing an additional 3,451 shares during the last quarter. Woodline Partners LP bought a new position in shares of Etsy during the 1st quarter valued at $2,181,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Etsy by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock valued at $180,000 after purchasing an additional 906 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Etsy in the 2nd quarter valued at $232,000. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ETSY has been the topic of several analyst reports. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Susquehanna cut Etsy to a “neutral” rating in a research report on Thursday, May 21st. Morgan Stanley set a $64.00 price target on Etsy in a research note on Wednesday, April 29th. Evercore set a $72.00 price objective on Etsy in a report on Wednesday, April 29th. Finally, Barclays raised their price objective on Etsy from $72.00 to $82.00 and gave the company an “overweight” 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 assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and an average price target of $71.00.

Etsy Stock Performance

Shares of ETSY stock opened at $69.47 on Monday. The stock’s 50 day simple moving average is $62.07 and its 200 day simple moving average is $57.17. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $76.51. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.87 and a beta of 1.88.

Insider Buying and Selling

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $61.63, for a total value of $1,232,600.00. Following the sale, the director owned 481,329 shares of the company’s stock, valued at $29,664,306.27. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 130,694 shares in the company, valued at $9,003,509.66. This trade represents a 50.76% decrease in their position. 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 sold a total of 451,509 shares of company stock worth $29,518,662 over the last three months. 2.50% of the stock is owned by company insiders.

About Etsy

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.