Renaissance Technologies LLC Acquires 594,768 Shares of Etsy Inc $ETSY

Renaissance Technologies LLC boosted its stake in Etsy Inc (NYSE:ETSY) by 11.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,962,210 shares of the company’s stock after buying an additional 594,768 shares during the period. Etsy makes up 0.5% of Renaissance Technologies LLC’s portfolio, making the stock its 26th largest holding. Renaissance Technologies LLC owned 6.28% of Etsy worth $297,991,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in shares of Etsy by 717.7% in the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after purchasing an additional 1,314,071 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after purchasing an additional 1,177,301 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after purchasing an additional 1,112,520 shares during the period. Norges Bank acquired a new position in Etsy in the 4th quarter valued at $33,903,000. Finally, Deutsche Bank AG increased its position in Etsy by 68.8% during the 4th quarter. Deutsche Bank AG now owns 1,378,170 shares of the company’s stock worth $76,406,000 after buying an additional 561,487 shares during the period. 99.53% of the stock is owned by institutional investors.

Etsy Price Performance

Shares of ETSY opened at $80.74 on Friday. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 3.17 and a beta of 1.83. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.14. The business has a 50-day moving average of $73.08 and a 200-day moving average of $62.09.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings upgraded shares of Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. President Capital upgraded shares of Etsy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $91.00 in a research report on Thursday, June 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $80.00 target price on shares of Etsy in a report on Monday. Bank of America raised their target price on shares of Etsy from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Finally, Roth Capital started coverage on Etsy in a research report on Thursday, May 21st. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.36.

Insiders Place Their Bets

In other Etsy news, 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 transaction of $9,281,549.70. Following the completion of the transaction, the insider owned 130,694 shares in the company, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total value of $1,487,800.00. Following the completion of the transaction, the director owned 441,329 shares in the company, valued at $32,830,464.31. This represents a 4.34% 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. Insiders sold 658,943 shares of company stock worth $47,305,981 over the last ninety days. Insiders own 2.50% of the company’s stock.

Etsy News Roundup

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analysts say Etsy’s app-led loyalty push is boosting engagement, conversion, and buyer lifetime value, while mobile gross merchandise sales growth accelerates and personalized features gain traction. Can Etsy’s Loyalty Initiatives Unlock Higher Buyer Lifetime Value?
• Positive Sentiment: Etsy’s collaboration with Olivia Rodrigo on a handmade Daisy Chain Fields merch and accessory collection highlights stronger brand visibility and could support traffic and marketplace activity. Olivia Rodrigo Creates Adorable Festival Accessory Line for Daisy Chain Fields With 10 Female Etsy Sellers
• Positive Sentiment: Another note argues Etsy has the ingredients to beat estimates again in its next earnings report, reinforcing expectations for solid near-term financial results. Will Etsy (ETSY) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: One article says Etsy fits an ideal LBO target profile, which may attract takeover speculation but does not by itself change fundamentals. These 4 Stocks Fit the Ideal LBO Target Profile Right Now
• Neutral Sentiment: Coverage also showed Etsy maintaining a consensus “Hold” rating, suggesting analysts remain cautious overall even amid improving sentiment. Etsy Inc (NYSE:ETSY) Given Consensus Recommendation of “Hold” by Analysts

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.