Landscape Capital Management L.L.C. Reduces Stake in Etsy Inc $ETSY

Landscape Capital Management L.L.C. cut its stake in shares of Etsy Inc (NYSE:ETSY) by 60.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,243 shares of the company’s stock after selling 39,283 shares during the period. Landscape Capital Management L.L.C.’s holdings in Etsy were worth $1,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in Etsy by 33.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock valued at $10,369,000 after purchasing an additional 47,105 shares in the last quarter. Lone Pine Capital LLC purchased a new position in Etsy during the third quarter valued at $257,614,000. Crossmark Global Holdings Inc. lifted its position in Etsy by 338.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock valued at $5,738,000 after purchasing an additional 79,888 shares in the last quarter. Picton Mahoney Asset Management lifted its position in Etsy by 30.5% during the third quarter. Picton Mahoney Asset Management now owns 95,008 shares of the company’s stock valued at $6,307,000 after purchasing an additional 22,229 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its position in Etsy by 100.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock valued at $4,657,000 after purchasing an additional 42,000 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Trading Up 4.0%

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

Insider Transactions at Etsy

In other news, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.79, for a total value of $1,375,800.00. Following the sale, the director directly owned 461,329 shares of the company’s stock, valued at approximately $31,734,821.91. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of Etsy stock in a transaction dated 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 completion of the sale, the insider directly owned 130,694 shares in the company, valued at $9,003,509.66. This trade represents a 50.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 valued at $29,518,662. 2.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Needham & Company LLC lifted their target price on Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. The Goldman Sachs Group upgraded Etsy from a “sell” rating to a “neutral” rating in a research report on Thursday, May 21st. Evercore set a $72.00 target price on Etsy in a research report on Wednesday, April 29th. BTIG Research lifted their target price on Etsy from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Etsy from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, April 30th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.00.

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.