Legal & General Group Plc Has $15.21 Million Stock Position in Etsy Inc $ETSY

Legal & General Group Plc lessened its stake in Etsy Inc (NYSE:ETSY) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 275,096 shares of the company’s stock after selling 60,187 shares during the quarter. Legal & General Group Plc owned 0.28% of Etsy worth $15,209,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Lone Pine Capital LLC acquired a new stake in shares of Etsy during the third quarter worth $257,614,000. Van ECK Associates Corp boosted its stake in Etsy by 1.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,695,089 shares of the company’s stock worth $245,317,000 after purchasing an additional 48,236 shares during the period. Assenagon Asset Management S.A. increased its holdings in Etsy by 3.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock worth $89,338,000 after purchasing an additional 59,123 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Etsy by 5.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 938,056 shares of the company’s stock worth $62,278,000 after purchasing an additional 51,556 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Etsy by 1,648.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock valued at $46,916,000 after purchasing an additional 666,253 shares during the period. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ETSY shares. Wall Street Zen cut Etsy from a “buy” rating to a “hold” rating in a research report on Sunday. Cantor Fitzgerald lifted their target price on Etsy from $51.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Stifel Nicolaus cut their target price on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. The Goldman Sachs Group raised Etsy from a “sell” rating to a “neutral” rating in a research report on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Etsy from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $70.88.

Etsy Stock Performance

NYSE:ETSY opened at $69.58 on Wednesday. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $76.51. The company has a market cap of $6.60 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.85 and a beta of 1.88. The stock’s 50-day simple moving average is $58.66 and its 200 day simple moving average is $56.34.

Insider Buying and Selling

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $61.63, for a total transaction of $1,232,600.00. Following the transaction, the director owned 481,329 shares of the company’s stock, valued at $29,664,306.27. The trade was a 3.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $65.09, for a total value of $310,869.84. Following the sale, the insider owned 6,503 shares in the company, valued at approximately $423,280.27. This represents a 42.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 296,779 shares of company stock valued at $18,861,313 in the last ninety days. 2.50% of the stock is owned by company insiders.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.