The Q3 institutional selling cluster suggests broad disenchantment with ETSY, but the 45-day reporting lag means these positions may have been adjusted further. Monitor the upcoming Q4 2024 13F filings to confirm whether selling continued or reversed. The sheer scale of passive manager reduction (Invesco) and hedge fund exit (Citadel) warrants caution for near-term positioning.
Executive Summary
The 2024-Q3 13F institutional cluster for ETSY reveals a pronounced net selling bias: 39 filers reduced positions by ~$238M while 28 buyers added ~$58M, resulting in a net institutional outflow of ~$180M. Major reductions from Invesco (near-exit of $163.8M position), Citadel (full exit of $42.9M), and UBS (trim of $21.0M) overshadow accumulations by D.E. Shaw and Bridgewater, signaling broad institutional de-risking during the quarter.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$179.6M
▲ Buyers (28)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| D.E. Shaw | ADD | +61.9% | $68.4M | $23.5M |
| Bridgewater | DOUBLED | +136.1% | $17.1M | $9.4M |
| Ameriprise Financial | DOUBLED | +319.6% | $19.0M | $14.2M |
| Canada Pension Plan Investment | DOUBLED | +221% | $12.3M | $8.2M |
▼ Sellers (39)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Invesco | NEAR_EXIT | -88.1% | $163.8M | -$145.5M |
| Citadel | EXIT | -100% | $42.9M | -$42.9M |
| Ubs Am, A Distinct Business Un | TRIM | -33.2% | $56.6M | -$21.0M |
Key Facts
- 39 institutional sellers vs 28 buyers in Q3 2024
- Invesco near-exited, cutting 88.1% of its ETSY position worth $163.8M
- Citadel fully exited its 727,407-share position ($42.9M)
- D.E. Shaw added 471,000 shares (+61.9%) valued at $23.5M
- Net institutional outflow of approximately $180 million
- Buyer side concentrated among quant and asset managers (Bridgewater, Ameriprise, Canada Pension Plan)
Financial Impact
Net institutional outflow of approximately $180 million during Q3 2024, with buyers accumulating $127.7M (net +$58.3M) and sellers reducing by $237.9M
Risk Factors
- Further institutional liquidation not yet disclosed in later quarters
- Deteriorating fundamentals or growth deceleration at ETSY
- No near-term catalyst to reverse sentiment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-ETSY-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 28d ago | Insider Cluster | $76.51 $74.46 | ▼ −2.68% | ▼ −1.47% | — |
Aug 19, 2026 6w ago | Insider Cluster | $81.21 $82.94 | ▲ +2.13% | ▲ +1.02% | — |
Aug 19, 2026 6w ago | Insider Cluster | $81.21 $82.94 | ▲ +2.13% | ▲ +1.02% | — |
Aug 12, 2026 7w ago | Insider Cluster | $79.63 $80.15 | ▲ +0.66% | ▲ +1.10% | — |
Aug 6, 2026 8w ago | Insider Cluster | $85.09 $79.90 | ▼ −6.10% | ▼ −6.50% | — |
Aug 4, 2026 8w ago | Insider Cluster | $85.86 $79.63 | ▼ −7.26% | ▼ −7.61% | — |
Aug 4, 2026 8w ago | 144 | $85.86 $79.63 | ▼ −7.26% | ▼ −7.61% | — |
Jul 17, 2026 11w ago | Press Release | $84.10 $80.91 | ▼ −3.79% | ▼ −3.11% | — |
Jul 17, 2026 11w ago | Insider Cluster | $84.10 $80.91 | ▲ +3.79% | ▲ +3.11% | — |
Jul 16, 2026 11w ago | 8-K | $83.48 $80.91 | ▼ −3.08% | ▼ −1.41% | — |
US Market Status
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