Jupiter Asset Management Ltd. Purchases 170,078 Shares of Etsy Inc $ETSY

Jupiter Asset Management Ltd. boosted its position in Etsy Inc (NYSE:ETSY) by 48.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 519,312 shares of the company’s stock after purchasing an additional 170,078 shares during the period. Jupiter Asset Management Ltd. owned about 0.53% of Etsy worth $28,791,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC bought a new stake in Etsy in the 3rd quarter worth about $51,000. Danske Bank A S bought a new position in shares of Etsy during the 3rd quarter valued at approximately $66,000. LSV Asset Management bought a new position in shares of Etsy during the 3rd quarter valued at approximately $86,000. MAI Capital Management grew 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 acquiring an additional 901 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Etsy during the 3rd quarter valued at approximately $93,000. 99.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ETSY. Barclays increased their target price on shares of Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Argus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Thursday, May 21st. Evercore set a $72.00 target price on shares of Etsy in a research report on Wednesday, April 29th. Bank of America increased their target price on shares of Etsy from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Susquehanna downgraded shares of Etsy to a “neutral” rating in a research report on Thursday, May 21st. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $70.88.

Insider Buying and Selling at Etsy

In related news, insider Richard Edward Colburn III sold 4,776 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $65.09, for a total value of $310,869.84. Following the completion of the transaction, the insider directly owned 6,503 shares of the company’s stock, valued at approximately $423,280.27. This trade represents a 42.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles Baker sold 2,030 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $63.50, for a total transaction of $128,905.00. Following the completion of the transaction, the chief financial officer directly owned 6,913 shares of the company’s stock, valued at approximately $438,975.50. This trade represents a 22.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 298,569 shares of company stock valued at $18,961,087 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Etsy Trading Up 1.3%

ETSY opened at $67.67 on Friday. The company has a 50 day moving average of $58.38 and a 200 day moving average of $56.33. The company has a market cap of $6.42 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 6.04 and a beta of 1.89. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51.

Etsy Company 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.