AXQ Capital LP Takes $894,000 Position in Etsy Inc $ETSY

AXQ Capital LP acquired a new position in Etsy Inc (NYSE:ETSY) in the 4th quarter, Holdings Channel.com reports. The firm acquired 16,127 shares of the company’s stock, valued at approximately $894,000.

Other institutional investors also recently bought and sold shares of the company. Lone Pine Capital LLC purchased a new position in Etsy during the third quarter valued at $257,614,000. Van ECK Associates Corp increased its position in Etsy by 1.3% in the third quarter. Van ECK Associates Corp now owns 3,695,089 shares of the company’s stock worth $245,317,000 after buying an additional 48,236 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Etsy by 3.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock worth $89,338,000 after buying an additional 59,123 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Etsy by 5.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 938,056 shares of the company’s stock worth $62,278,000 after buying an additional 51,556 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Etsy by 1,648.1% in the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after buying an additional 666,253 shares during the period. 99.53% of the stock is owned by institutional investors.

Insider Transactions at Etsy

In other news, insider Josh Silverman sold 88,350 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $64.18, for a total transaction of $5,670,303.00. Following the sale, the insider directly owned 130,694 shares of the company’s stock, valued at $8,387,940.92. This represents a 40.33% decrease in their position. The sale was disclosed in a legal filing 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 Richard Edward Colburn III sold 4,776 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $65.09, for a total value of $310,869.84. Following the transaction, the insider owned 6,503 shares of the company’s stock, valued at $423,280.27. This represents a 42.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 296,779 shares of company stock valued at $18,861,313 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Etsy Stock Up 0.8%

Shares of Etsy stock opened at $69.58 on Wednesday. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.85 and a beta of 1.88. The business has a 50-day moving average price of $58.66 and a 200-day moving average price of $56.34. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $76.51.

Analyst Ratings Changes

A number of research analysts recently issued reports on ETSY shares. Morgan Stanley set a $64.00 price objective on Etsy in a research note on Wednesday, April 29th. Wells Fargo & Company raised their target price on shares of Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Susquehanna lowered shares of Etsy to a “neutral” rating in a research report on Thursday, May 21st. The Goldman Sachs Group raised shares of Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Finally, Sanford C. Bernstein raised their price objective on shares of Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a research report 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 given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Etsy has a consensus rating of “Hold” and an average price target of $70.88.

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.