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

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the completion of the transaction, the director directly owned 421,329 shares of the company’s stock, valued at $35,062,999.38. This represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Up 4.0%

ETSY stock opened at $86.48 on Wednesday. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.26. The stock’s 50 day moving average is $76.35 and its two-hundred day moving average is $63.25. The company has a market capitalization of $8.21 billion, a PE ratio of 36.03, a P/E/G ratio of 3.26 and a beta of 1.84.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ETSY. Bank of America lifted their price target on shares of Etsy from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. The Goldman Sachs Group raised shares of Etsy from a “sell” rating to a “neutral” rating in a report on Thursday, May 21st. Wells Fargo & Company boosted their target price on shares of Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 target price on shares of Etsy in a research note on Monday, July 20th. Finally, Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.36.

Institutional Trading of Etsy

Institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Etsy by 33.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock worth $10,369,000 after purchasing an additional 47,105 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of 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 during the period. Crossmark Global Holdings Inc. grew its position in shares of Etsy by 338.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock valued at $5,738,000 after buying an additional 79,888 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Etsy by 717.7% during 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 during the last quarter. Finally, Hussman Strategic Advisors Inc. raised its stake in Etsy by 100.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock worth $4,657,000 after acquiring an additional 42,000 shares during the period. Institutional investors 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.