Activist investors TPG and Dragoneer submitted a 13D filing indicating they collectively own 8 percent of Etsy, Inc. . Earlier this month, Black-And-White Capital LP claimed 2 percent of shares outstanding. There are indications that the investors will push the company to explore a sale, and the filings helped push Etsy shares 21 percent higher to $13.73 on Tuesday. The company is undergoing an internal strategic and operational review under new management, making an immediate sale unlikely, according to one analyst. Loop Capital Markets analyst Blake Harper expects a catalyst when Etsy reports its Q2 earnings in three months. The company reported Q1 results that underperformed on every metric, in part due to a significantly slower February.Source