** Esty's ETSY.O shares down 3.5% premarket to $59.64 as online marketplace seeks capital raise
** Brooklyn, New York-based firm offering privately $650 mln convertible bonds due 2030
** It plans to use up to $175 mln of net offering proceeds to repurchase shares in privately negotiated transactions with purchasers of the bonds
** Remainder of proceeds are for general purposes, including repayment or repurchase of existing debt, co says
** With ~104.3 mln shares outstanding, co has $6.4 bln market cap
** ETSY shares on Tues closed down 3.2% at $61.83, snapping a 10-session winning streak in which they racked up a 34% gain
** YTD, stock up 17%
** Of 34 analysts covering ETSY, recommendation breakdown is 9 "strong buy" or "buy", 20 "hold" and 5 "sell" ratings and median PT is $50, according to latest LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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