Jupiter Asset Management Ltd. Boosts Holdings in Etsy Inc $ETSY

Jupiter Asset Management Ltd. boosted its position in Etsy Inc (NYSE:ETSY) by 48.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 519,312 shares of the company’s stock after purchasing an additional 170,078 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Etsy were worth $28,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lone Pine Capital LLC purchased a new stake in Etsy in the 3rd quarter worth approximately $257,614,000. Van ECK Associates Corp lifted its stake in Etsy by 1.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,695,089 shares of the company’s stock worth $245,317,000 after purchasing an additional 48,236 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Etsy by 3.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock worth $89,338,000 after purchasing an additional 59,123 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Etsy by 5.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 938,056 shares of the company’s stock worth $62,278,000 after purchasing an additional 51,556 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Etsy by 1,648.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after purchasing an additional 666,253 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research cut shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their target price on shares of Etsy from $58.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Evercore set a $72.00 target price on shares of Etsy in a research note on Wednesday, April 29th. Jefferies Financial Group cut shares of Etsy from a “hold” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Truist Financial increased their target price on shares of Etsy from $83.00 to $85.00 and gave the stock a “buy” rating in a research note 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 issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $70.88.

Insider Buying and Selling at Etsy

In other Etsy news, insider Richard Edward Colburn III sold 4,776 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $65.09, for a total transaction of $310,869.84. Following the sale, the insider owned 6,503 shares in the company, valued at $423,280.27. This trade represents a 42.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.63, for a total value of $1,232,600.00. Following the sale, the director owned 481,329 shares in the company, valued at $29,664,306.27. The trade was a 3.99% 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 ninety days, insiders have sold 298,569 shares of company stock valued at $18,961,087. 2.50% of the stock is currently owned by company insiders.

Etsy Stock Up 1.3%

NYSE ETSY opened at $67.67 on Friday. The stock’s 50-day simple moving average is $58.38 and its two-hundred day simple moving average is $56.33. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $76.51. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 6.04 and a beta of 1.89.

About Etsy

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.