Etsy (NYSE:ETSY) Director Sells 20,000 Shares

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total value of $1,487,800.00. Following the transaction, the director owned 441,329 shares in the company, valued at $32,830,464.31. The trade was a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Down 2.2%

Shares of Etsy stock traded down $1.73 during trading on Monday, reaching $75.24. The company’s stock had a trading volume of 2,419,455 shares, compared to its average volume of 3,365,861. The business’s 50-day moving average price is $67.49 and its 200-day moving average price is $59.42. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $80.41. The firm has a market cap of $7.14 billion, a PE ratio of 31.35, a P/E/G ratio of 3.20 and a beta of 1.83.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Truist Financial raised their target price on shares of Etsy from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Evercore set a $72.00 price target on Etsy in a research note on Wednesday, April 29th. The Goldman Sachs Group raised Etsy from a “sell” rating to a “neutral” rating in a research report on Thursday, May 21st. Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Thursday, May 21st. Finally, Sanford C. Bernstein lifted their price objective on Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.80.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after buying an additional 158 shares during the period. Alamea Verwaltungs GmbH grew its holdings in Etsy by 2.3% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after acquiring an additional 169 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Etsy by 2.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after acquiring an additional 180 shares during the period. Blue Trust Inc. increased its position in Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Etsy by 6.6% during the fourth quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock valued at $185,000 after acquiring an additional 205 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.