Havemeyer Place LP Takes $1.01 Million Position in Etsy Inc $ETSY

Havemeyer Place LP bought a new stake in shares of Etsy Inc (NYSE:ETSY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,203 shares of the company’s stock, valued at approximately $1,009,000.

Other large investors have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC purchased a new stake in shares of Etsy during the 3rd quarter valued at $51,000. Danske Bank A S purchased a new stake in shares of Etsy during the 3rd quarter valued at $66,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Etsy during the 4th quarter valued at $79,000. LSV Asset Management purchased a new stake in shares of Etsy during the 3rd quarter valued at $86,000. Finally, MAI Capital Management increased its position in shares of Etsy by 215.0% during the 3rd quarter. MAI Capital Management now owns 1,320 shares of the company’s stock valued at $88,000 after purchasing an additional 901 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 481,329 shares in the company, valued at $29,664,306.27. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the firm’s 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 transaction, the insider owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. This represents a 50.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 451,509 shares of company stock valued at $29,518,662. 2.50% of the stock is owned by corporate insiders.

Etsy Stock Performance

Shares of ETSY opened at $66.90 on Monday. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $76.51. The business has a 50-day moving average of $60.03 and a 200 day moving average of $56.60. The firm has a market cap of $6.35 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 2.76 and a beta of 1.88.

Analyst Upgrades and Downgrades

ETSY has been the subject of several research analyst reports. The Goldman Sachs Group raised Etsy from a “sell” rating to a “neutral” rating in a research report on Thursday, May 21st. Arete Research set a $76.00 price objective on Etsy and gave the stock a “buy” rating in a report on Wednesday, May 20th. Roth Mkm started coverage on Etsy in a report on Thursday, May 21st. They issued a “buy” rating for the company. Weiss Ratings raised Etsy from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Cantor Fitzgerald lifted their price objective on Etsy from $51.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. One 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 currently has a consensus rating of “Hold” and an average target price 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.