SG Americas Securities LLC Acquires 1,314,071 Shares of Etsy Inc $ETSY

SG Americas Securities LLC lifted its holdings in shares of Etsy Inc (NYSE:ETSY) by 717.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,497,174 shares of the company’s stock after buying an additional 1,314,071 shares during the period. SG Americas Securities LLC’s holdings in Etsy were worth $74,829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ETSY. EFG International AG bought a new stake in Etsy during the fourth quarter worth about $33,000. Danske Bank A S bought a new position in Etsy in the third quarter valued at approximately $66,000. Federation des caisses Desjardins du Quebec grew its stake in Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after purchasing an additional 225 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Etsy during the 4th quarter worth approximately $79,000. Finally, MAI Capital Management increased 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 worth $88,000 after purchasing an additional 901 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETSY has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Etsy from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Etsy from $74.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Guggenheim initiated coverage on shares of Etsy in a research report on Thursday, May 21st. They set a “buy” rating on the stock. Canaccord Genuity Group increased their price target on shares of Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Needham & Company LLC lifted their price objective on shares of Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.00.

Etsy Trading Down 1.8%

Shares of NYSE ETSY opened at $72.64 on Tuesday. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51. The stock has a 50 day moving average of $64.47 and a 200-day moving average of $57.97. The company has a market capitalization of $6.89 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.95 and a beta of 1.88.

Insiders Place Their Bets

In other Etsy news, CFO Charles Baker sold 2,030 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total value of $128,905.00. Following the transaction, the chief financial officer directly owned 6,913 shares in the company, valued at $438,975.50. The trade was a 22.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Richard Edward Colburn III sold 4,776 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $65.09, for a total transaction of $310,869.84. Following the completion of the transaction, the insider directly owned 6,503 shares in the company, valued at $423,280.27. The trade was a 42.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 553,988 shares of company stock worth $37,027,108. 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.