Seelaus Asset Management LLC Acquires New Stake in Etsy Inc $ETSY

Seelaus Asset Management LLC acquired a new stake in shares of Etsy Inc (NYSE:ETSY) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,890 shares of the company’s stock, valued at approximately $494,000.

Other large investors have also bought and sold shares of the company. EFG International AG purchased a new position in shares of Etsy during the 4th quarter valued at $33,000. Blue Trust Inc. increased its holdings in Etsy by 19.3% in the 1st 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 last quarter. Danske Bank A S purchased a new stake in Etsy in the 3rd quarter worth about $66,000. Federation des caisses Desjardins du Quebec raised its stake in Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Etsy in the 4th quarter valued at about $79,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Recent analysis suggests Etsy is seeing a buyer rebound, with active buyers returning to sequential growth and spending per buyer improving, which could support revenue and cash flow if the trend continues. Etsy (ETSY) Buyers Return To Growth, Is The Stock Now Too Pricey?
• Positive Sentiment: Another report says Etsy’s first sequential increase in active buyers in two years, along with stronger app-based sales and personalized search/AI features, may be improving the investment case. Is Etsy’s Buyer Rebound and App Engagement Shift Altering The Investment Case For Etsy (ETSY)?
• Positive Sentiment: Analysts say Etsy’s AI seller tools could reduce friction for merchants, improve inventory quality, and help accelerate marketplace growth. Etsy’s Seller Tools Could Unlock Faster Marketplace Growth
• Neutral Sentiment: One valuation piece argues Etsy may look attractive on cash flow, but not necessarily cheap on earnings, leaving investors split on whether the stock is undervalued after its recent rebound. Is Etsy (ETSY) Stock Cheap On Cash Flow Or Expensive On Earnings?
• Negative Sentiment: ETSY saw additional insider selling, including CAO Merilee Buckley and Director Frederick Wilson, which can weigh on sentiment even though the trades were made under pre-arranged 10b5-1 plans. Insider Selling: Etsy (NYSE:ETSY) Director Sells 20,000 Shares of Stock
• Negative Sentiment: A market article also notes Etsy and CarGurus were trading down, reinforcing the weaker tone in the stock today. Etsy and CarGurus stocks trade down, what you need to know

Analyst Ratings Changes

ETSY has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Etsy from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, June 12th. Argus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Thursday, May 21st. Zacks Research upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Bank of America raised their price objective on shares of Etsy from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Finally, UBS Group upgraded shares of Etsy from a “neutral” rating to a “neutral” rating in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.80.

Etsy Stock Down 0.3%

ETSY stock opened at $77.32 on Thursday. The stock has a 50-day simple moving average of $68.27 and a two-hundred day simple moving average of $59.91. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $80.41. The firm has a market capitalization of $7.34 billion, a PE ratio of 32.22, a PEG ratio of 3.23 and a beta of 1.83.

Insider Activity at Etsy

In related news, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 of the company’s stock, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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. Insiders have sold 744,447 shares of company stock valued at $52,139,342 in the last three months. 2.50% of the stock is currently owned by company insiders.

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.