GSA Capital Partners LLP Takes Position in Etsy Inc $ETSY

GSA Capital Partners LLP purchased a new position in shares of Etsy Inc (NYSE:ETSY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,840 shares of the company’s stock, valued at approximately $2,775,000.

Several other hedge funds have also made changes to their positions in ETSY. EFG International AG acquired a new position in Etsy during the 4th quarter valued at approximately $33,000. Danske Bank A S bought a new stake in Etsy in the third quarter valued at $66,000. CoreCap Advisors LLC lifted its stake in Etsy by 2,379.1% in the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock valued at $80,000 after buying an additional 1,023 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in shares of 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 acquiring an additional 225 shares during the period. Finally, Blue Trust Inc. grew its position in shares of 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 acquiring an additional 200 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Etsy from $82.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Piper Sandler upped their target price on shares of Etsy from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Wall Street Zen cut shares of Etsy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Cantor Fitzgerald raised their price target on shares of Etsy from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group lifted their price target on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. One equities 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $81.50.

Insider Activity at Etsy

In other news, CAO Merilee Buckley sold 881 shares of Etsy stock in a transaction on Monday, July 6th. The stock was sold at an average price of $75.35, for a total transaction of $66,383.35. Following the transaction, the chief accounting officer directly owned 405 shares in the company, valued at approximately $30,516.75. This trade represents a 68.51% decrease in their position. The sale 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, insider Richard Edward Colburn III sold 8,252 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the sale, the insider directly owned 6,503 shares in the company, valued at $533,831.27. This represents a 55.93% 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. Insiders sold 604,262 shares of company stock worth $45,085,166 in the last three months. Insiders own 2.50% of the company’s stock.

Etsy Stock Down 0.7%

ETSY stock opened at $80.07 on Friday. The company has a 50-day simple moving average of $78.65 and a 200 day simple moving average of $64.37. The company has a market capitalization of $7.60 billion, a P/E ratio of 44.73, a PEG ratio of 5.47 and a beta of 1.84. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97.

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.