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

Etsy Inc (NYSE:ETSY) 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 value of $1,375,800.00. Following the completion of the sale, the director owned 461,329 shares in the company, valued at $31,734,821.91. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Trading Down 3.6%

Shares of NYSE ETSY opened at $67.25 on Thursday. The firm’s 50-day moving average price is $59.29 and its 200-day moving average price is $56.44. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 2.88 and a beta of 1.88. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $76.51.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ETSY shares. Arete Research set a $76.00 price objective on Etsy and gave the company a “buy” rating in a research report on Wednesday, May 20th. Truist Financial upped their price objective on Etsy from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group downgraded Etsy from a “hold” rating to a “hold” rating in a research report on Thursday, May 21st. UBS Group upgraded Etsy from a “neutral” rating to a “neutral” rating in a research report on Thursday, May 21st. Finally, Evercore set a $72.00 price objective on Etsy in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.88.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of ETSY. EFG International AG bought a new position in Etsy in the fourth quarter worth approximately $33,000. Abich Financial Wealth Management LLC bought a new position in Etsy in the third quarter worth approximately $51,000. Danske Bank A S bought a new position in Etsy in the third quarter worth approximately $66,000. Federation des caisses Desjardins du Quebec grew its stake in Etsy by 22.8% in the fourth 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 in the last quarter. Finally, Blue Trust Inc. grew its stake in Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

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.