Renaissance Technologies LLC Grows Stock Position in Etsy Inc $ETSY

Renaissance Technologies LLC raised its position in Etsy Inc (NYSE:ETSY) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,962,210 shares of the company’s stock after buying an additional 594,768 shares during the quarter. Etsy comprises about 0.5% of Renaissance Technologies LLC’s holdings, making the stock its 26th largest position. Renaissance Technologies LLC owned about 0.06% of Etsy worth $297,991,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ETSY. EFG International AG bought a new position in shares of Etsy during the 4th quarter worth $33,000. Danske Bank A S purchased a new stake in Etsy during the third quarter valued at about $66,000. Federation des caisses Desjardins du Quebec lifted its holdings in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after purchasing an additional 225 shares during the last quarter. Blue Trust Inc. boosted its position in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Etsy in the third quarter worth about $93,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Merilee Buckley sold 881 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was 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 in the company, valued at approximately $30,516.75. This represents a 68.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total value of $1,487,800.00. Following the transaction, the director directly owned 441,329 shares in the company, valued at approximately $32,830,464.31. This represents a 4.34% 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 valued at $47,305,981 over the last 90 days. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Roth Capital initiated coverage on shares of Etsy in a research note on Thursday, May 21st. They set a “buy” rating on the stock. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. UBS Group upgraded shares of Etsy from a “neutral” rating to a “neutral” rating in a research note on Thursday, May 21st. BTIG Research downgraded shares of Etsy from a “buy” rating to a “neutral” rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group upgraded shares of Etsy from a “sell” rating to a “neutral” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.36.

Key Stories 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

Etsy Stock Performance

NYSE ETSY opened at $80.74 on Friday. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.14. The company has a market capitalization 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. The company has a fifty day moving average of $73.08 and a 200-day moving average of $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.