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

Etsy Inc (NYSE:ETSYGet Free Report) Director Frederick Wilson sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total value of $1,664,400.00. Following the transaction, the director owned 421,329 shares in the company, valued at approximately $35,062,999.38. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

ETSY traded up $3.31 during trading on Tuesday, hitting $86.48. 3,016,285 shares of the stock traded hands, compared to its average volume of 3,234,977. The firm has a market capitalization of $8.21 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 3.20 and a beta of 1.84. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.26. The firm has a 50-day moving average of $75.90 and a 200 day moving average of $63.07.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently made changes to their positions in the company. EFG International AG purchased a new stake in Etsy during the 4th quarter valued at $33,000. Blue Trust Inc. boosted its position in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Etsy during the third quarter valued at $66,000. Federation des caisses Desjardins du Quebec increased its holdings 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 buying an additional 225 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Etsy in the 4th quarter worth about $79,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the topic of a number of research analyst reports. President Capital upgraded Etsy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.00 to $91.00 in a report on Thursday, June 25th. Morgan Stanley set a $64.00 price target on Etsy in a research report on Wednesday, April 29th. Weiss Ratings raised Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Citigroup assumed coverage on Etsy in a report on Thursday, May 21st. They issued an “outperform” rating for the company. Finally, Guggenheim started coverage on Etsy in a research report on Thursday, May 21st. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Etsy presently has a consensus rating of “Hold” and an average price target of $75.36.

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Etsy Company Profile

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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

Insider Buying and Selling by Quarter for Etsy (NYSE:ETSY)

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