Shake-Up Alert: 40 Companies Facing Activist Pressure

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19. Elliot Management at Etsy, Inc. (NASDAQ:ETSY)

Stock Return: – 20%

S&P 500 Return: 7.3%

Investment date: 03/02/2024

Number of hedge funds holding stakes: 35

Etsy, Inc. (NASDAQ:ETSY) is an internet retail giant that operates online marketplaces that connect buyers and sellers. Activist investor Elliott Management has built a 13% stake in the company and, in the process, handed a seat on the board to influence the company’s strategic direction.

With a seat on the board, the activist hedge fund can push for strategic changes to unlock value that is not limited to selling some units or the entire business.

Etsy, Inc. (NASDAQ:ETSY) is down by 17.34% for the year. On the other hand, 35 out of 920 hedge funds tracked by Insider Monkey held stakes in the company as of the end of Q1 2024.

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