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

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.79, for a total transaction of $1,375,800.00. Following the completion of the sale, the director owned 461,329 shares of the company’s stock, valued at approximately $31,734,821.91. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

ETSY stock opened at $67.39 on Friday. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 2.77 and a beta of 1.88. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51. The company has a fifty day moving average price of $59.65 and a 200 day moving average price of $56.52.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after acquiring an additional 158 shares in the last quarter. Alamea Verwaltungs GmbH grew its position in Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after acquiring an additional 169 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Etsy by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after acquiring an additional 180 shares in the last quarter. Blue Trust Inc. grew its position in Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Etsy by 6.6% in the fourth quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock valued at $185,000 after acquiring an additional 205 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ETSY shares. Weiss Ratings upgraded shares of Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Susquehanna cut shares of Etsy to a “neutral” rating in a research note on Thursday, May 21st. Cantor Fitzgerald increased their price objective on shares of Etsy from $51.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Citigroup assumed coverage on shares of Etsy in a research note on Thursday, May 21st. They set an “outperform” rating on the stock. Finally, Morgan Stanley set a $64.00 price target on shares of Etsy in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Etsy has a consensus rating of “Hold” and a consensus price target of $70.88.

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.