Great Lakes Advisors LLC Invests $1.63 Million in Etsy Inc $ETSY

Great Lakes Advisors LLC bought a new position in shares of Etsy Inc (NYSE:ETSY) during the 2nd quarter, Holdings Channel reports. The fund bought 21,674 shares of the company’s stock, valued at approximately $1,633,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EFG International AG purchased a new stake in Etsy during the fourth quarter worth about $33,000. Global Retirement Partners LLC acquired a new stake in Etsy during the 2nd quarter valued at $34,000. Blue Trust Inc. increased its position in Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares in the last quarter. Danske Bank A S purchased a new position in Etsy in the 3rd quarter valued at about $66,000. Finally, Federation des caisses Desjardins du Quebec boosted its position in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Bank of America upgraded Etsy from “Neutral” to “Buy” and raised its price target from $88 to $95. The firm said recent growth appears increasingly structural rather than temporary, citing improved execution under CEO Kruti Patel Goyal, stronger mobile engagement and conservative estimates. It also identified potential for more than $1 billion in share buybacks following the Depop sale. Etsy upgraded to buy at BofA on durable growth, buyback potential
• Positive Sentiment: Rosenblatt Securities initiated coverage with a “Buy” rating and a $95 price target, implying meaningful upside from recent trading levels, and subsequently upgraded the shares to “Strong Buy.” The bullish view adds momentum to Etsy’s improving analyst sentiment. Rosenblatt initiates Etsy coverage
• Positive Sentiment: Recent coverage characterizes Etsy’s rebound as potentially durable, while the company’s reported partnership with OpenAI may improve product discovery and marketplace engagement over time. Etsy Partners With OpenAI
• Neutral Sentiment: Goldman Sachs has begun research coverage on Etsy, but no rating or price target was provided in the available report. The broader analyst consensus remains “Hold,” with an average target of approximately $82.73, below the newer $95 targets.
• Negative Sentiment: Director Marla Blow sold 300 shares and Chief Accounting Officer Merilee Buckley sold 405 shares under pre-arranged Rule 10b5-1 plans. The transactions were relatively small, but insider selling can temper investor enthusiasm.
• Negative Sentiment: Etsy’s latest quarterly results included an adjusted EPS loss of $0.49 versus expectations for positive EPS of $0.75, while revenue declined 0.7% year over year. With a P/E ratio near 45, investors may demand continued evidence that the company’s growth recovery can justify its valuation.

Insider Activity at Etsy

In other news, CFO Charles Baker sold 1,564 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $85.88, for a total transaction of $134,316.32. Following the completion of the sale, the chief financial officer directly owned 11,357 shares of the company’s stock, valued at $975,339.16. This trade represents a 12.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the sale, the director owned 421,329 shares of the company’s stock, valued at approximately $35,062,999.38. This represents a 4.53% decrease in their ownership of the stock. 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 ninety days, insiders have sold 584,967 shares of company stock worth $43,908,631. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ETSY. B. Riley Financial increased their target price on shares of Etsy from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Bank of America upgraded shares of Etsy from a “neutral” rating to a “buy” rating and upped their target price for the company from $88.00 to $95.00 in a research note on Thursday. Susquehanna lowered Etsy to a “neutral” rating in a report on Thursday, May 21st. Citigroup upped their price objective on Etsy from $60.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada downgraded Etsy to a “sector perform” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $84.68.

Etsy Stock Down 0.6%

NYSE:ETSY opened at $80.69 on Friday. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 45.08, a price-to-earnings-growth ratio of 5.56 and a beta of 1.84. The stock has a fifty day simple moving average of $79.76 and a 200 day simple moving average of $65.19.

Etsy (NYSE:ETSY) last released its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. Equities analysts predict that Etsy Inc will post 3.94 earnings per share for the current year.

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.