Klingman & Associates LLC Takes Position in Etsy Inc $ETSY

Klingman & Associates LLC purchased a new stake in Etsy Inc (NYSE:ETSY) during the first quarter, Holdings Channel reports. The institutional investor purchased 9,373 shares of the company’s stock, valued at approximately $468,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETSY. SG Americas Securities LLC raised its position in 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 acquiring an additional 1,314,071 shares during the period. AQR Capital Management LLC lifted its holdings in Etsy by 40.1% during the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after purchasing an additional 1,112,520 shares in the last quarter. Norges Bank acquired a new stake in shares of Etsy in the fourth quarter valued at about $33,903,000. Finally, Deutsche Bank AG grew its position in shares of 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 purchasing an additional 561,487 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In other news, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction on 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 transaction, the director owned 441,329 shares in the company, valued at $32,830,464.31. The trade was a 4.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of Etsy stock in a transaction 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 approximately $9,003,509.66. This represents a 50.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 658,943 shares of company stock worth $47,305,981. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ETSY has been the subject of several research analyst reports. BTIG Research downgraded shares of Etsy from a “buy” rating to a “neutral” rating in a research report on Thursday, July 16th. UBS Group raised Etsy from a “neutral” rating to a “neutral” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. raised their target price on Etsy from $78.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings raised Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company boosted their price target on Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Etsy has a consensus rating of “Hold” and a consensus price target of $75.36.

Key Etsy News

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

Etsy Price Performance

Shares of Etsy stock opened at $80.74 on Friday. The stock’s 50 day simple moving average is $73.08 and its 200-day simple moving average is $62.09. The stock has a market cap of $7.66 billion, a P/E ratio of 33.64, a P/E/G 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.

Etsy 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.