Hillsdale Investment Management Inc. Buys 80,600 Shares of Etsy Inc $ETSY

Hillsdale Investment Management Inc. increased its stake in Etsy Inc (NYSE:ETSY) by 23,028.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,950 shares of the company’s stock after purchasing an additional 80,600 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Etsy were worth $4,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its position in shares of Etsy by 33.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock valued at $10,369,000 after acquiring an additional 47,105 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Etsy by 338.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock worth $5,738,000 after acquiring an additional 79,888 shares during the period. Hussman Strategic Advisors Inc. lifted its stake in Etsy by 100.0% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock worth $4,657,000 after purchasing an additional 42,000 shares in the last quarter. SG Americas Securities LLC lifted its stake in Etsy by 717.7% in the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after purchasing an additional 1,314,071 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Etsy by 1.1% in the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after purchasing an additional 39,067 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Josh Silverman sold 134,730 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the transaction, the insider directly owned 130,694 shares in the company, valued at approximately $9,003,509.66. This represents a 50.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 759,312 shares of company stock valued at $53,799,597. 2.50% of the stock is currently owned by corporate insiders.

Etsy Stock Up 3.3%

ETSY opened at $85.78 on Thursday. The business’s fifty day simple moving average is $69.95 and its 200 day simple moving average is $60.84. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.14. The stock has a market cap of $8.14 billion, a PE ratio of 35.74, a P/E/G ratio of 3.46 and a beta of 1.83.

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Jefferies issued a positive forecast for Etsy, signaling continued confidence in the company’s outlook. Jefferies Financial Group Issues Positive Forecast for Etsy (NYSE:ETSY) Stock Price
• Positive Sentiment: The UK competition watchdog cleared eBay’s planned acquisition of Depop, removing a regulatory hurdle tied to Etsy’s resale-platform asset and reducing deal uncertainty around the transaction. UK watchdog clears eBay’s planned acquisition of Depop from Etsy
• Neutral Sentiment: JPMorgan raised its price target on Etsy, but kept a neutral rating and the new target still implies limited upside from current levels. Etsy had its price target raised by JPMorgan Chase & Co.
• Neutral Sentiment: Industry and lifestyle coverage around Etsy’s marketplace and community initiatives adds visibility, but does not appear to be a major stock driver. Etsy’s WNC craft partnership celebrated with Gov. Stein, wife
• Negative Sentiment: Insider selling by CEO Josh Silverman may weigh on sentiment, especially since he has now sold shares in multiple recent transactions. Etsy (NYSE:ETSY) Insider Josh Silverman Sells 39,161 Shares of Stock

Analysts Set New Price Targets

A number of research analysts have recently commented on ETSY shares. Barclays boosted their price target 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. Evercore set a $72.00 price objective on Etsy in a research report on Wednesday, April 29th. Weiss Ratings raised Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Citigroup assumed coverage on Etsy in a research report on Thursday, May 21st. They set an “outperform” rating for the company. Finally, Morgan Stanley set a $64.00 target price on Etsy in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Etsy has a consensus rating of “Hold” and an average target price of $73.08.

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.