New York State Teachers Retirement System Lowers Stock Position in Etsy Inc $ETSY

New York State Teachers Retirement System trimmed its position in Etsy Inc (NYSE:ETSY) by 15.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,316 shares of the company’s stock after selling 17,397 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Etsy worth $4,614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after purchasing an additional 1,177,301 shares during the period. Lone Pine Capital LLC purchased a new stake in Etsy in the 3rd quarter worth $257,614,000. Van ECK Associates Corp raised its holdings in 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 acquiring an additional 39,067 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Etsy by 3.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock worth $89,338,000 after acquiring an additional 59,123 shares during the period. Finally, SG Americas Securities LLC grew 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 worth $74,829,000 after purchasing an additional 1,314,071 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 881 shares of Etsy stock in a transaction on Monday, July 6th. The shares were sold at an average price of $75.35, for a total value of $66,383.35. Following the completion of the transaction, the chief accounting officer directly owned 405 shares of the company’s stock, valued at $30,516.75. This trade represents a 68.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 92,404 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $74.93, for a total transaction of $6,923,831.72. Following the completion of the sale, the insider owned 139,884 shares in the company, valued at approximately $10,481,508.12. This trade represents a 39.78% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 744,447 shares of company stock worth $52,139,342. Company insiders own 2.50% of the company’s stock.

Etsy Price Performance

Shares of ETSY opened at $77.32 on Thursday. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.83. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $80.41. The business’s 50 day simple moving average is $68.27 and its 200-day simple moving average is $59.91.

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Recent analysis suggests Etsy is seeing a buyer rebound, with active buyers returning to sequential growth and spending per buyer improving, which could support revenue and cash flow if the trend continues. Etsy (ETSY) Buyers Return To Growth, Is The Stock Now Too Pricey?
• Positive Sentiment: Another report says Etsy’s first sequential increase in active buyers in two years, along with stronger app-based sales and personalized search/AI features, may be improving the investment case. Is Etsy’s Buyer Rebound and App Engagement Shift Altering The Investment Case For Etsy (ETSY)?
• Positive Sentiment: Analysts say Etsy’s AI seller tools could reduce friction for merchants, improve inventory quality, and help accelerate marketplace growth. Etsy’s Seller Tools Could Unlock Faster Marketplace Growth
• Neutral Sentiment: One valuation piece argues Etsy may look attractive on cash flow, but not necessarily cheap on earnings, leaving investors split on whether the stock is undervalued after its recent rebound. Is Etsy (ETSY) Stock Cheap On Cash Flow Or Expensive On Earnings?
• Negative Sentiment: ETSY saw additional insider selling, including CAO Merilee Buckley and Director Frederick Wilson, which can weigh on sentiment even though the trades were made under pre-arranged 10b5-1 plans. Insider Selling: Etsy (NYSE:ETSY) Director Sells 20,000 Shares of Stock
• Negative Sentiment: A market article also notes Etsy and CarGurus were trading down, reinforcing the weaker tone in the stock today. Etsy and CarGurus stocks trade down, what you need to know

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Cantor Fitzgerald boosted their price target on Etsy from $51.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Barclays increased their price objective on shares of Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Raymond James Financial downgraded shares of Etsy from an “outperform” rating to an “outperform” rating in a report on Thursday, May 21st. Needham & Company LLC upped their target price on shares of Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.80.

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.