Alpine Global Management LLC Makes New $1.81 Million Investment in Etsy, Inc. (NASDAQ:ETSY)

Alpine Global Management LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 28,000 shares of the specialty retailer’s stock, valued at approximately $1,808,000. Etsy accounts for about 0.5% of Alpine Global Management LLC’s holdings, making the stock its 27th biggest position.

Other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Etsy by 23.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after buying an additional 57,785 shares during the period. Northern Trust Corp lifted its position in shares of Etsy by 4.3% during the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after purchasing an additional 48,934 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Etsy by 201.5% during the third quarter. DAVENPORT & Co LLC now owns 579,791 shares of the specialty retailer’s stock worth $37,291,000 after purchasing an additional 387,467 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Etsy by 1.1% during the second quarter. Geode Capital Management LLC now owns 2,698,644 shares of the specialty retailer’s stock worth $227,749,000 after purchasing an additional 28,312 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Etsy by 257.4% during the second quarter. Acadian Asset Management LLC now owns 6,133 shares of the specialty retailer’s stock worth $517,000 after purchasing an additional 4,417 shares in the last quarter. 92.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Etsy in a research report on Friday, March 1st. B. Riley assumed coverage on shares of Etsy in a research report on Friday, December 8th. They set a “buy” rating and a $100.00 target price on the stock. Wolfe Research boosted their target price on shares of Etsy from $76.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th. Truist Financial cut their price target on shares of Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Morgan Stanley cut their price target on shares of Etsy from $66.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.88.

Etsy Stock Performance

Etsy stock opened at $72.31 on Monday. The company has a 50-day simple moving average of $73.03 and a 200-day simple moving average of $71.47. The firm has a market capitalization of $8.57 billion, a P/E ratio of 32.28, a P/E/G ratio of 4.97 and a beta of 2.02. Etsy, Inc. has a one year low of $58.20 and a one year high of $116.15.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the transaction, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

About Etsy

(Free Report)

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.

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