Key Points
- Director Frederick Wilson sold 20,000 Etsy shares on Monday, June 1 at an average price of $68.79, totaling about $1.38 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Wilson still owned 461,329 shares of Etsy, valued at roughly $31.7 million, and his stake fell by 4.16%.
- Etsy’s stock was trading around $67.25 at the time of the report, while analysts maintained a Hold consensus rating with an average price target of $70.88.
Etsy Inc (NYSE:ETSY - Get Free Report) Director Frederick Wilson sold 20,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.79, for a total transaction of $1,375,800.00. Following the completion of the transaction, the director owned 461,329 shares of the company's stock, valued at $31,734,821.91. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Etsy Price Performance
Etsy stock opened at $67.25 on Thursday. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 2.88 and a beta of 1.88. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $76.51. The business has a fifty day moving average price of $59.29 and a 200-day moving average price of $56.44.
Institutional Trading of Etsy
A number of hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in Etsy by 10.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company's stock worth $88,000 after buying an additional 158 shares in the last quarter. Alamea Verwaltungs GmbH increased its stake 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 buying an additional 169 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Etsy by 2.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company's stock worth $419,000 after buying an additional 180 shares in the last quarter. Blue Trust Inc. increased its stake in Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock worth $62,000 after buying an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Etsy by 6.6% during the 4th quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock worth $185,000 after buying an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.
Analyst Ratings Changes
Several research firms have recently issued reports on ETSY. B. Riley Financial downgraded shares of Etsy from a "buy" rating to a "neutral" rating and upped their price objective for the company from $70.00 to $75.00 in a report on Thursday, April 30th. The Goldman Sachs Group raised Etsy from a "sell" rating to a "neutral" rating in a research report on Thursday, May 21st. Evercore set a $72.00 price target on Etsy in a research report on Wednesday, April 29th. Roth Mkm started coverage on Etsy in a research report on Thursday, May 21st. They set a "buy" rating for the company. Finally, Barclays lifted their price target on Etsy from $72.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. 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 given a Sell rating to the company. According to MarketBeat, Etsy presently has a consensus rating of "Hold" and an average target price of $70.88.
Read Our Latest Stock Analysis on ETSY
Etsy Company Profile
(
Get 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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
