Allspring Global Investments Holdings LLC Buys 289 Shares of Etsy, Inc. (NASDAQ:ETSY)

Allspring Global Investments Holdings LLC raised its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 3.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,660 shares of the specialty retailer’s stock after acquiring an additional 289 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Etsy were worth $648,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. PARUS FINANCE UK Ltd lifted its stake in Etsy by 2.9% during the 1st quarter. PARUS FINANCE UK Ltd now owns 4,540 shares of the specialty retailer’s stock valued at $505,000 after acquiring an additional 130 shares during the period. Park Place Capital Corp lifted its stake in shares of Etsy by 15.2% in the 1st quarter. Park Place Capital Corp now owns 1,053 shares of the specialty retailer’s stock worth $117,000 after purchasing an additional 139 shares during the period. New York Life Investment Management LLC lifted its stake in shares of Etsy by 0.7% in the 1st quarter. New York Life Investment Management LLC now owns 20,671 shares of the specialty retailer’s stock worth $2,301,000 after purchasing an additional 144 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Etsy by 129.5% in the 1st quarter. Valley National Advisers Inc. now owns 257 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 145 shares during the period. Finally, Quarry LP lifted its stake in shares of Etsy by 121.7% in the 1st quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 146 shares during the period. Institutional investors own 92.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ETSY shares. Barclays lowered their price objective on shares of Etsy from $74.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. BTIG Research lowered their price objective on shares of Etsy from $108.00 to $90.00 in a research note on Friday, October 6th. Bank of America decreased their target price on shares of Etsy from $123.00 to $110.00 in a research note on Friday, July 28th. Wolfe Research upgraded shares of Etsy from a “peer perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Thursday, September 14th. Finally, Piper Sandler decreased their target price on shares of Etsy from $126.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Etsy has a consensus rating of “Hold” and a consensus target price of $90.35.

Insider Buying and Selling at Etsy

In other Etsy news, Director Marla J. Blow sold 600 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $73.11, for a total transaction of $43,866.00. Following the transaction, the director now owns 3,289 shares in the company, valued at $240,458.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Ryan M. Scott sold 1,043 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $62.91, for a total transaction of $65,615.13. Following the completion of the sale, the chief marketing officer now directly owns 7,735 shares of the company’s stock, valued at $486,608.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marla J. Blow sold 600 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $73.11, for a total transaction of $43,866.00. Following the completion of the sale, the director now directly owns 3,289 shares of the company’s stock, valued at $240,458.79. The disclosure for this sale can be found here. Insiders have sold 55,438 shares of company stock worth $3,638,057 over the last quarter. Insiders own 2.60% of the company’s stock.

Etsy Stock Down 3.1 %

ETSY stock opened at $62.02 on Friday. Etsy, Inc. has a twelve month low of $58.20 and a twelve month high of $149.91. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 7.01 and a beta of 2.02. The firm’s fifty day simple moving average is $64.97 and its two-hundred day simple moving average is $80.26.

Etsy Company Profile

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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.