Etsy Inc (NYSE:ETSY - Get Free Report) Director Frederick Wilson sold 20,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the sale, the director directly owned 441,329 shares in the company, valued at approximately $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Etsy Stock Down 2.2%
Shares of Etsy stock opened at $75.24 on Tuesday. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $80.41. The business has a 50-day moving average price of $67.49 and a 200 day moving average price of $59.42. The firm has a market cap of $7.14 billion, a PE ratio of 28.61, a P/E/G ratio of 3.20 and a beta of 1.83.
Institutional Investors Weigh In On Etsy
Several institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. EFG International AG purchased a new stake in shares of Etsy during the fourth quarter worth $33,000. Danske Bank A S purchased a new position in shares of Etsy in the third quarter worth about $66,000. Federation des caisses Desjardins du Quebec boosted its position in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock worth $67,000 after acquiring an additional 225 shares during the last quarter. Blue Trust Inc. boosted its position in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock worth $62,000 after acquiring an additional 200 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in Etsy during the 3rd quarter valued at about $93,000. Institutional investors and hedge funds own 99.53% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently commented on ETSY. Deutsche Bank Aktiengesellschaft boosted their price objective on Etsy from $74.00 to $75.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. Canaccord Genuity Group lifted their price target on shares of Etsy from $72.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Arete Research set a $76.00 price target on shares of Etsy and gave the stock a "buy" rating in a report on Wednesday, May 20th. President Capital raised shares of Etsy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $57.00 to $91.00 in a report on Thursday, June 25th. Finally, Raymond James Financial lowered shares of Etsy from an "outperform" rating to an "outperform" rating in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $71.80.
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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.
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