Bank of Nova Scotia Has $10.59 Million Stock Position in Etsy Inc $ETSY

Bank of Nova Scotia lowered its stake in shares of Etsy Inc (NYSE:ETSY) by 44.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,917 shares of the company’s stock after selling 168,646 shares during the period. Bank of Nova Scotia owned 0.22% of Etsy worth $10,592,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. EFG International AG bought a new position in shares of Etsy in the fourth quarter valued at $33,000. Blue Trust Inc. grew its position in shares of Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares during the period. Danske Bank A S bought a new position in shares of Etsy in the 3rd quarter valued at about $66,000. Federation des caisses Desjardins du Quebec grew its position in shares of Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Etsy during the 4th quarter worth about $79,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETSY. Raymond James Financial upped their target price on shares of Etsy from $75.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Truist Financial lifted their price target on Etsy from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. Guggenheim assumed coverage on Etsy in a research note on Thursday, May 21st. They issued a “buy” rating on the stock. Wells Fargo & Company upped their price objective on Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Finally, President Capital raised Etsy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $57.00 to $91.00 in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and an average price target of $75.36.

Etsy Trading Up 0.1%

NYSE ETSY opened at $80.74 on Monday. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 3.16 and a beta of 1.83. The company has a 50 day moving average of $73.08 and a 200-day moving average of $62.12. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.14.

Insiders Place Their Bets

In other Etsy news, insider Josh Silverman sold 134,730 shares of Etsy stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70. Following the completion of the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at $9,003,509.66. The trade was a 50.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total value of $1,487,800.00. Following the sale, the director owned 441,329 shares of the company’s stock, valued at approximately $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 658,943 shares of company stock worth $47,305,981. Corporate insiders own 2.50% of the company’s stock.

Etsy News Summary

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analysts say Etsy’s app-led loyalty push is boosting engagement, conversion, and buyer lifetime value, while mobile gross merchandise sales growth accelerates and personalized features gain traction. Can Etsy’s Loyalty Initiatives Unlock Higher Buyer Lifetime Value?
• Positive Sentiment: Etsy’s collaboration with Olivia Rodrigo on a handmade Daisy Chain Fields merch and accessory collection highlights stronger brand visibility and could support traffic and marketplace activity. Olivia Rodrigo Creates Adorable Festival Accessory Line for Daisy Chain Fields With 10 Female Etsy Sellers
• Positive Sentiment: Another note argues Etsy has the ingredients to beat estimates again in its next earnings report, reinforcing expectations for solid near-term financial results. Will Etsy (ETSY) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: One article says Etsy fits an ideal LBO target profile, which may attract takeover speculation but does not by itself change fundamentals. These 4 Stocks Fit the Ideal LBO Target Profile Right Now
• Neutral Sentiment: Coverage also showed Etsy maintaining a consensus “Hold” rating, suggesting analysts remain cautious overall even amid improving sentiment. Etsy Inc (NYSE:ETSY) Given Consensus Recommendation of “Hold” by Analysts

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.