Etsy Inc $ETSY Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Etsy Inc (NYSE:ETSY) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 478,999 shares of the company’s stock after purchasing an additional 10,410 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of Etsy worth $23,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EFG International AG acquired a new position in Etsy in the 4th quarter valued at about $33,000. Danske Bank A S purchased a new stake in shares of Etsy during the 3rd quarter valued at approximately $66,000. Federation des caisses Desjardins du Quebec raised its position in shares of Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after buying an additional 225 shares during the period. Blue Trust Inc. lifted its holdings in Etsy by 19.3% in the first 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 last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in Etsy in the third quarter valued at approximately $93,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Up 0.2%

NYSE:ETSY opened at $84.24 on Tuesday. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.14. The company has a fifty day simple moving average of $71.22 and a two-hundred day simple moving average of $61.43. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 3.50 and a beta of 1.83.

Insider Buying and Selling at Etsy

In other news, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction dated 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 completion of the transaction, the director owned 441,329 shares in the company, valued at approximately $32,830,464.31. This trade represents a 4.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70. Following the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. This represents a 50.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 658,943 shares of company stock valued at $47,305,981 over the last three months. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ETSY has been the subject of several analyst reports. Zacks Research lowered Etsy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. BTIG Research lowered Etsy from a “buy” rating to a “neutral” rating in a research note on Thursday. Wedbush started coverage on Etsy in a report on Thursday, July 16th. They set a “neutral” rating and a $80.00 price target for the company. Wall Street Zen downgraded Etsy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Finally, Roth Capital assumed coverage on shares of Etsy in a report on Thursday, May 21st. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.48.

Etsy Company Profile

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.