Smith Group Asset Management LLC Buys Shares of 10,646 Etsy Inc $ETSY

Smith Group Asset Management LLC bought a new position in shares of Etsy Inc (NYSE:ETSY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,646 shares of the company’s stock, valued at approximately $532,000.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after buying an additional 158 shares during the period. Alamea Verwaltungs GmbH grew its position in shares of Etsy by 2.3% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after buying an additional 169 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Etsy by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock worth $419,000 after acquiring an additional 180 shares during the period. Blue Trust Inc. raised its stake in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Etsy by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock worth $1,250,000 after acquiring an additional 224 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on ETSY. Jefferies Financial Group lifted their target price on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. increased their price target on Etsy from $78.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Morgan Stanley set a $64.00 price target on Etsy in a report on Wednesday, April 29th. Raymond James Financial boosted their price objective on Etsy from $75.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Etsy from $74.00 to $75.00 and gave the stock a “hold” rating in a research note 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.36.

Etsy Trading Up 3.5%

NYSE ETSY opened at $86.80 on Wednesday. The company has a 50-day moving average price of $74.17 and a two-hundred day moving average price of $62.45. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.14. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 3.28 and a beta of 1.83.

Insider Activity at Etsy

In related news, 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 in the company, valued at $9,003,509.66. This trade represents a 50.76% decrease in their position. The transaction was disclosed in a legal filing 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, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction 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 sale, the director directly owned 441,329 shares in the company, valued at $32,830,464.31. The trade was a 4.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 622,500 shares of company stock valued at $44,791,414. Insiders own 2.50% of the company’s stock.

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.