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UPDATE 1-Elliott's Cohn says Etsy offers significant, multi-year upside for investors

Reuters
·1-min read

(Adds Cohn comment on stake size in third paragraph)

NEW YORK, April 3 (Reuters) - Elliott Investment Management's managing partner Jesse Cohn said on Wednesday he believes e-commerce platform Etsy will generate "significant, multi-year upside."

Elliott, one of the world's most prominent investors, has a 13% economic stake in Etsy, including both common shares and swaps, a person familiar with the matter told Reuters in February.

At the Sohn Conference in New York on Wednesday, Cohn said Elliott's stake was over 10%. He said he sees room for "product engagement and monetization opportunities," comparing Etsy to Pinterest, another company to which Elliott appointed a board member in 2022.

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Cohn said Etsy has potential to add more buyers and increase the amount of money they spend on the platform, for instance.

In February, Etsy appointed Elliott's portfolio manager Marc Steinberg to its board. (Reporting by Carolina Mandl in New York Editing by Bill Berkrot)