Quantinno Capital Management LP Increases Position in Etsy Inc $ETSY

Quantinno Capital Management LP increased its position in shares of Etsy Inc (NYSE:ETSY) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 533,497 shares of the company’s stock after acquiring an additional 25,026 shares during the quarter. Quantinno Capital Management LP owned approximately 0.56% of Etsy worth $26,664,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Etsy by 33.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock worth $10,369,000 after purchasing an additional 47,105 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Etsy by 338.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock valued at $5,738,000 after purchasing an additional 79,888 shares during the period. SG Americas Securities LLC grew its position in shares of Etsy by 717.7% in the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after purchasing an additional 1,314,071 shares during the period. Finally, Hussman Strategic Advisors Inc. increased its stake in Etsy by 100.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock valued at $4,657,000 after purchasing an additional 42,000 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Down 1.7%

ETSY stock opened at $81.72 on Friday. The company has a market cap of $7.76 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 3.26 and a beta of 1.83. The stock has a 50-day moving average price of $75.49 and a two-hundred day moving average price of $62.90. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.26.

Insider Activity

In related news, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the completion of the sale, the director owned 441,329 shares of the company’s stock, valued at approximately $32,830,464.31. This represents a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the firm’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 in the company, valued at $9,003,509.66. The trade was a 50.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 534,150 shares of company stock valued at $39,121,111 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ETSY shares. Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Thursday, May 21st. Wall Street Zen cut Etsy from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. The Goldman Sachs Group raised shares of Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Sanford C. Bernstein increased their price objective on shares of Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Etsy from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $75.36.

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.