In a significant development for the financial markets, Bayforest Capital Ltd has dramatically increased its investment in Etsy, Inc., a prominent specialty retailer known for its unique online marketplace. This substantial boost in stock holdings signals a strong vote of confidence from the institutional investor, drawing attention to Etsy’s performance and market position.
According to its most recent Form 13F filing with the Securities and Exchange Commission (SEC), Bayforest Capital Ltd expanded its stake in Etsy by an impressive 396.3% during the first quarter. The firm acquired an additional 3,420 shares, bringing its total ownership to 4,283 shares of Etsy’s stock. At the close of the reporting period, Bayforest Capital Ltd’s holdings in Etsy were valued at a considerable $202,000.
Bayforest Capital is not alone in its bullish stance on Etsy. Several other institutional investors and prominent hedge funds have also adjusted their positions, indicating a broader trend of increased interest in the specialty retailer’s stock. For instance, True Wealth Design LLC significantly grew its stake by 112.7% in the fourth quarter, accumulating 551 shares valued at $29,000.
Further demonstrating this trend, Hurley Capital LLC initiated a new stake in Etsy during the fourth quarter, acquiring shares worth $32,000. Similarly, Strategic Investment Solutions Inc. IL also established a new position valued at approximately $34,000. Allworth Financial LP increased its holdings by 47.6% in the first quarter, adding 248 shares to reach 769 shares valued at $35,000.
Johnson Financial Group Inc. made an even more substantial move, increasing its holdings in Etsy by an astonishing 862.1% during the fourth quarter, bringing its total to 1,270 shares valued at $70,000. Overall, institutional investors and hedge funds collectively hold a commanding 99.53% of Etsy’s stock, underscoring the company’s strong appeal to major players in the investment landscape.
Examining Etsy’s recent stock performance reveals a dynamic picture. Shares opened at $58.77, with the company boasting a market capitalization of $5.82 billion. Key financial metrics include a P/E ratio of 47.40, a PEG ratio of 3.16, and a beta of 1.73, reflecting its market volatility relative to the broader market. The stock has traded between a twelve-month low of $40.05 and a high of $68.45, with its fifty-day simple moving average at $56.91 and two-hundred-day simple moving average at $51.45, indicating recent upward momentum.
The investment community’s outlook on Etsy is varied, as evidenced by recent research reports. While some analysts, like Truist Financial, have upped their price targets and issued “buy” ratings, others, such as Evercore ISI, have lowered targets. Wells Fargo & Company increased their price objective but maintained an “underweight” rating, and Arete Research controversially raised shares to a “strong sell.” Despite these differing views, MarketBeat data indicates a consensus rating of “Hold” with a target price of $56.76.
Beyond institutional movements, recent insider trading activity has also shaped Etsy’s stock narrative. An insider sale on July 1st saw 1,500 shares sold at $51.36, totaling $77,040, reducing their ownership by 4.15%. Additionally, CTO Richard Edward Colburn III sold 2,350 shares for $110,473.50 on May 16th, decreasing his direct ownership by 44.80%. Over the last 90 days, insiders have collectively sold 326,041 shares valued at over $19.6 million, with insiders owning 2.80% of the stock, offering insights into internal perspectives on the company’s valuation.
