Smith Group Asset Management LLC Makes New $532,000 Investment in Etsy Inc $ETSY

Smith Group Asset Management LLC bought a new position in Etsy Inc (NYSE:ETSY) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,646 shares of the company’s stock, valued at approximately $532,000.

A number of other large investors have also modified their holdings of the stock. Renaissance Technologies LLC lifted its position in Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after acquiring an additional 594,768 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after acquiring an additional 1,177,301 shares during the period. Van ECK Associates Corp grew its position in Etsy by 1.1% in 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after acquiring an additional 1,112,520 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Etsy by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company’s stock valued at $78,642,000 after purchasing an additional 100,542 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the topic of a number of recent research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $80.00 target price on shares of Etsy in a research report on Monday, July 20th. President Capital raised shares of Etsy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $91.00 in a research note on Thursday, June 25th. Barclays lifted their price target on shares of Etsy from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Roth Capital started coverage on shares of Etsy in a research report on Thursday, May 21st. They issued a “buy” rating for the company. Finally, 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 note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $75.36.

Etsy Trading Up 3.5%

Shares of NYSE:ETSY opened at $86.80 on Wednesday. The company has a fifty day simple moving average of $74.17 and a 200 day simple moving average of $62.45. The firm has a market cap of $8.24 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 3.28 and a beta of 1.83. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.14.

Insider Buying and Selling at Etsy

In other news, Director Frederick R. Wilson sold 20,000 shares of the business’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 completion of the sale, the director owned 441,329 shares of the company’s stock, valued at approximately $32,830,464.31. The trade was a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the completion of the sale, the insider owned 130,694 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 622,500 shares of company stock valued at $44,791,414. 2.50% of the stock is owned by company insiders.

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.