Etsy (NYSE:ETSY) Director Sells $1,232,600.00 in Stock

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.63, for a total value of $1,232,600.00. Following the completion of the sale, the director directly owned 481,329 shares in the company, valued at approximately $29,664,306.27. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Stock Performance

Shares of NYSE:ETSY traded up $1.83 during midday trading on Tuesday, hitting $64.21. The company’s stock had a trading volume of 2,968,012 shares, compared to its average volume of 3,431,425. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $76.51. The stock’s 50 day simple moving average is $57.41 and its 200 day simple moving average is $56.09. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 5.56 and a beta of 1.89.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ETSY shares. Evercore set a $72.00 target price on shares of Etsy in a research report on Wednesday, April 29th. Raymond James Financial lowered shares of Etsy from an “outperform” rating to an “outperform” rating in a research report on Thursday, May 21st. Truist Financial upped their price target on Etsy from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Canaccord Genuity Group upped their price target on Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Bank of America cut their price target on Etsy from $77.00 to $72.00 in a report on Wednesday, May 20th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $70.75.

Institutional Trading of Etsy

Several institutional investors have recently bought and sold shares of ETSY. Lone Pine Capital LLC acquired a new stake in Etsy in the 3rd quarter valued at $257,614,000. SG Americas Securities LLC boosted its stake in Etsy by 717.7% in the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after buying an additional 1,314,071 shares in the last quarter. AQR Capital Management LLC boosted its stake in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after buying an additional 1,177,301 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after buying an additional 1,112,520 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Etsy by 1,648.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock valued at $46,916,000 after buying an additional 666,253 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Company Profile

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.