First Trust Advisors LP Purchases 7,560 Shares of Etsy Inc $ETSY

First Trust Advisors LP raised its position in Etsy Inc (NYSE:ETSY) by 4.0% during the first quarter, HoldingsChannel.com reports. The firm owned 195,576 shares of the company’s stock after purchasing an additional 7,560 shares during the period. First Trust Advisors LP’s holdings in Etsy were worth $9,775,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EFG International AG bought a new position in shares of Etsy during the fourth quarter valued at approximately $33,000. Blue Trust Inc. boosted its holdings in Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares during the period. Danske Bank A S purchased a new position in Etsy during the 3rd quarter valued at $66,000. Federation des caisses Desjardins du Quebec grew its position in Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Etsy in the 4th quarter valued at $79,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Down 1.7%

ETSY opened at $81.72 on Friday. The stock’s fifty day moving average is $75.49 and its two-hundred day moving average is $62.90. The company has a market capitalization of $7.76 billion, a P/E ratio of 34.05, a PEG ratio of 3.26 and a beta of 1.83. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.26.

Analysts Set New Price Targets

A number of analysts have weighed in on ETSY shares. Morgan Stanley set a $64.00 target price on Etsy in a research note on Wednesday, April 29th. Wall Street Zen cut shares of Etsy from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Canaccord Genuity Group upped their price target on shares of Etsy from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Sanford C. Bernstein raised their price target on shares of Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, April 30th. Finally, Roth Capital assumed coverage on shares of Etsy in a report on Thursday, May 21st. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Etsy presently has a consensus rating of “Hold” and a consensus price target of $75.36.

Insiders Place Their Bets

In other news, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction on 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 transaction, the director owned 441,329 shares in the company, valued at approximately $32,830,464.31. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 39,161 shares of Etsy stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $79.00, for a total value of $3,093,719.00. Following the completion of the sale, the insider owned 139,884 shares of the company’s stock, valued at $11,050,836. The trade was a 21.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 534,150 shares of company stock worth $39,121,111. 2.50% of the stock is currently owned by company insiders.

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.