Norges Bank Takes $33.90 Million Position in Etsy Inc $ETSY

Norges Bank acquired a new stake in Etsy Inc (NYSE:ETSY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 611,520 shares of the company’s stock, valued at approximately $33,903,000.

A number of other institutional investors also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Etsy in the 4th quarter valued at $79,000. Jupiter Asset Management Ltd. boosted its stake in shares of Etsy by 48.7% in the 4th quarter. Jupiter Asset Management Ltd. now owns 519,312 shares of the company’s stock valued at $28,791,000 after purchasing an additional 170,078 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Etsy by 167.5% in the 4th quarter. Hantz Financial Services Inc. now owns 1,712 shares of the company’s stock valued at $95,000 after purchasing an additional 1,072 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Etsy by 11.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the company’s stock valued at $209,000 after purchasing an additional 381 shares during the last quarter. Finally, Evoke Wealth LLC boosted its stake in shares of Etsy by 5.1% in the 4th quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock valued at $281,000 after purchasing an additional 248 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Etsy news, insider Josh Silverman sold 134,730 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.89, for a total value of $9,281,549.70. Following the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. This trade represents a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $61.63, for a total transaction of $1,232,600.00. Following the completion of the transaction, the director directly owned 481,329 shares in the company, valued at $29,664,306.27. This trade represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 451,509 shares of company stock worth $29,518,662 over the last ninety days. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

ETSY has been the topic of a number of analyst reports. Barclays upped their price objective on shares of Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. UBS Group raised shares of Etsy from a “neutral” rating to a “neutral” rating in a research note on Thursday, May 21st. B. Riley Financial lowered shares of Etsy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $70.00 to $75.00 in a research note on Thursday, April 30th. Susquehanna lowered shares of Etsy to a “neutral” rating in a research note on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Etsy from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.88.

Etsy Trading Up 2.8%

Etsy stock opened at $68.75 on Tuesday. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $76.51. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 2.76 and a beta of 1.88. The firm’s fifty day moving average price is $60.43 and its two-hundred day moving average price is $56.70.

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.