Etsy Inc (NYSE:ETSY – Get Free Report) Director Frederick Wilson sold 20,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.63, for a total value of $1,232,600.00. Following the transaction, the director owned 481,329 shares in the company, valued at $29,664,306.27. This represents a 3.99% decrease in their ownership of the stock. The sale 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 Performance
NYSE:ETSY opened at $66.91 on Friday. The company has a 50-day moving average of $58.11 and a 200-day moving average of $56.25. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $76.51. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 5.77 and a beta of 1.89.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. B. Riley Financial lowered shares of Etsy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $70.00 to $75.00 in a report on Thursday, April 30th. Guggenheim assumed coverage on shares of Etsy in a report on Thursday, May 21st. They set a “buy” rating for the company. Needham & Company LLC raised their price objective on shares of Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. UBS Group raised shares of Etsy from a “neutral” rating to a “neutral” rating in a report on Thursday, May 21st. Finally, Susquehanna lowered shares of Etsy to a “neutral” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.88.
Hedge Funds Weigh In On Etsy
Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its stake in shares of Etsy by 21.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 430,824 shares of the company’s stock valued at $28,602,000 after purchasing an additional 75,295 shares during the last quarter. Allianz Asset Management GmbH boosted 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 last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Etsy by 33.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock valued at $10,369,000 after purchasing an additional 47,105 shares during the last quarter. Lone Pine Capital LLC bought a new stake in shares of Etsy in the 3rd quarter valued at $257,614,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Etsy in the 3rd quarter valued at $1,889,000. 99.53% of the stock is owned by institutional investors.
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.
Featured Stories
- Five stocks we like better than Etsy
- 3 Stocks Rallying on Micron’s Price Boost: Substance or Hype?
- Snowflake and the Snowballing Impact of its AI Flywheel
- AI’s Biggest Bottleneck Could Make These 2 Stocks Soar
- These 3 Beaten-Down Stocks Just Saw $25 Million in Insider Buying
Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.
