Arrowstreet Capital Limited Partnership Has $120.06 Million Stake in Etsy Inc $ETSY

Arrowstreet Capital Limited Partnership trimmed its position in shares of Etsy Inc (NYSE:ETSY) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,165,603 shares of the company’s stock after selling 242,927 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Etsy were worth $120,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Danske Bank A S acquired a new position in Etsy in the 3rd quarter valued at $66,000. Federation des caisses Desjardins du Quebec increased its position in Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after buying an additional 225 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Etsy during the 4th quarter worth $79,000. LSV Asset Management bought a new position in Etsy during the 3rd quarter worth $86,000. Finally, MAI Capital Management increased its position in Etsy by 215.0% during the 3rd quarter. MAI Capital Management now owns 1,320 shares of the company’s stock worth $88,000 after buying an additional 901 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Josh Silverman sold 134,730 shares of Etsy 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 directly owned 130,694 shares of the company’s stock, valued at $9,003,509.66. The trade was a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of Etsy 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 completion of the transaction, the director directly owned 481,329 shares in the company, valued at approximately $29,664,306.27. This represents a 3.99% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 451,509 shares of company stock worth $29,518,662. 2.50% of the stock is owned by insiders.

Etsy Trading Up 4.0%

Shares of ETSY stock opened at $72.28 on Tuesday. The business’s 50-day moving average price is $62.48 and its 200-day moving average price is $57.30. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 2.87 and a beta of 1.88.

Analyst Ratings Changes

Several analysts have recently issued reports on ETSY shares. Weiss Ratings raised Etsy from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Needham & Company LLC increased their target price on Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Sanford C. Bernstein increased their target price on Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, April 30th. Stifel Nicolaus reduced their target price on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Finally, Wall Street Zen lowered Etsy from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $71.00.

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.