Louisiana State Employees Retirement System Purchases Shares of 43,800 Etsy Inc $ETSY

Louisiana State Employees Retirement System acquired a new position in Etsy Inc (NYSE:ETSY) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 43,800 shares of the company’s stock, valued at approximately $2,189,000.

Other large investors have also recently made changes to their positions in the company. Cardinal Point Capital Management ULC boosted its stake in Etsy by 66.0% in the 1st quarter. Cardinal Point Capital Management ULC now owns 7,735 shares of the company’s stock worth $387,000 after purchasing an additional 3,075 shares during the period. Blue Trust Inc. grew its holdings in Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Etsy by 717.7% during the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after buying an additional 1,314,071 shares during the last quarter. Compound Planning Inc. raised its position in shares of Etsy by 16.6% during the fourth quarter. Compound Planning Inc. now owns 4,000 shares of the company’s stock valued at $222,000 after buying an additional 570 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Etsy by 26.8% in the fourth quarter. Invesco Ltd. now owns 361,193 shares of the company’s stock worth $20,025,000 after buying an additional 76,379 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETSY has been the topic of a number of research reports. Arete Research set a $76.00 price target on shares of Etsy and gave the company a “buy” rating in a report on Wednesday, May 20th. Truist Financial raised their price objective on Etsy from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Roth Mkm began coverage on Etsy in a report on Thursday, May 21st. They issued a “buy” rating on the stock. Citigroup began coverage on Etsy in a research report on Thursday, May 21st. They issued an “outperform” rating on the stock. Finally, Bank of America increased their price target on Etsy from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.80.

Insider Activity at Etsy

In other news, Director Frederick R. Wilson sold 20,000 shares of the 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 sale, 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. The sale was disclosed in a filing with the SEC, which can be accessed through 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 firm’s 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 sale, the insider directly owned 130,694 shares of the company’s stock, valued at $9,003,509.66. This represents a 50.76% decrease in their ownership of the stock. 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 have sold 651,377 shares of company stock valued at $44,720,839 in the last 90 days. Company insiders own 2.50% of the company’s stock.

Etsy Trading Up 2.1%

Shares of NYSE:ETSY opened at $79.69 on Tuesday. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 3.11 and a beta of 1.88. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $80.41. The firm’s 50-day moving average is $66.60 and its 200 day moving average is $58.81.

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.