Janus Henderson Group PLC Acquires 240,986 Shares of Etsy Inc $ETSY

Janus Henderson Group PLC grew its holdings in Etsy Inc (NYSE:ETSY) by 627.2% during the first quarter, HoldingsChannel.com reports. The firm owned 279,407 shares of the company’s stock after acquiring an additional 240,986 shares during the quarter. Janus Henderson Group PLC’s holdings in Etsy were worth $13,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of Etsy by 11.1% during the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after purchasing an additional 594,768 shares during the period. AQR Capital Management LLC increased its stake in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after buying an additional 1,177,301 shares during the period. Van ECK Associates Corp increased its stake in Etsy by 1.1% in the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after buying an additional 39,067 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after buying an additional 1,112,520 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Etsy by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company’s stock valued at $78,642,000 after buying an additional 100,542 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ETSY has been the subject of several research reports. Wells Fargo & Company upped 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. Jefferies Financial Group lifted their price target on shares of Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Citigroup assumed coverage on shares of Etsy in a research note on Thursday, May 21st. They set an “outperform” rating for the company. Morgan Stanley set a $64.00 price target on Etsy in a report on Wednesday, April 29th. Finally, Roth Capital initiated coverage on Etsy in a research note 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 issued a Buy rating, twenty have issued 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 a consensus target price of $75.36.

Etsy Stock Performance

NYSE ETSY opened at $86.48 on Wednesday. The company has a market cap of $8.21 billion, a PE ratio of 36.03, a P/E/G ratio of 3.26 and a beta of 1.84. The firm’s 50 day moving average price is $76.35 and its 200-day moving average price is $63.25. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.26.

Insiders Place Their Bets

In other news, insider Josh Silverman sold 41,108 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $83.11, for a total value of $3,416,485.88. Following the completion of the transaction, the insider directly owned 171,932 shares of the company’s stock, valued at approximately $14,289,268.52. The trade was a 19.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Merilee Buckley sold 881 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $75.35, for a total value of $66,383.35. Following the sale, the chief accounting officer owned 405 shares of the company’s stock, valued at $30,516.75. This trade represents a 68.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 588,452 shares of company stock worth $43,762,222 over the last 90 days. Company insiders own 2.50% of the company’s stock.

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.