Illinois Municipal Retirement Fund Buys 28,152 Shares of Etsy Inc $ETSY

Illinois Municipal Retirement Fund grew its stake in Etsy Inc (NYSE:ETSYFree Report) by 33.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 111,267 shares of the company’s stock after buying an additional 28,152 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Etsy were worth $5,561,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. EFG International AG acquired a new stake in shares of Etsy during the fourth quarter worth $33,000. Blue Trust Inc. boosted its stake in Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the period. Danske Bank A S acquired a new position in Etsy in the 3rd quarter worth $66,000. Federation des caisses Desjardins du Quebec boosted its stake in Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after purchasing an additional 225 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in Etsy during the 4th quarter worth about $79,000. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In other Etsy news, insider Josh Silverman sold 134,730 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 130,694 shares in the company, valued at $9,003,509.66. This trade represents a 50.76% decrease in their ownership of the stock. 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. Insiders sold 759,312 shares of company stock worth $53,799,597 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Etsy Price Performance

Shares of NYSE ETSY opened at $84.08 on Friday. The business has a 50-day moving average of $70.73 and a 200-day moving average of $61.20. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 3.47 and a beta of 1.83. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.14.

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

Analyst Ratings Changes

Several research firms have issued reports on ETSY. Wedbush assumed coverage on Etsy in a research note on Thursday. They issued a “neutral” rating and a $80.00 price target on the stock. Canaccord Genuity Group upped their price objective on Etsy from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Barclays increased their price objective on Etsy from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Raymond James Financial cut Etsy from an “outperform” rating to an “outperform” rating in a research note on Thursday, May 21st. Finally, UBS Group raised Etsy from a “neutral” rating to a “neutral” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.64.

Check Out Our Latest Stock Analysis on ETSY

Etsy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Etsy (NYSE:ETSY)

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