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

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.63, for a total transaction of $1,232,600.00. Following the completion of the transaction, the director owned 481,329 shares of the company’s stock, valued at $29,664,306.27. This represents a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Trading Up 2.9%

ETSY traded up $1.83 on Tuesday, reaching $64.21. The company had a trading volume of 2,968,012 shares, compared to its average volume of 3,431,425. The company has a fifty day moving average of $57.41 and a 200-day moving average of $56.09. The company has a market capitalization of $6.09 billion, a P/E ratio of 26.75, a PEG ratio of 5.56 and a beta of 1.89. Etsy Inc has a one year low of $44.00 and a one year high of $76.51.

Analyst Upgrades and Downgrades

ETSY has been the topic of several research analyst reports. Weiss Ratings upgraded Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Canaccord Genuity Group lifted their price target on Etsy from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. The Goldman Sachs Group raised shares of Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Morgan Stanley set a $64.00 price objective on shares of Etsy in a research note on Wednesday, April 29th. Finally, B. Riley Financial lowered shares of Etsy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $70.00 to $75.00 in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.75.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in ETSY. Lone Pine Capital LLC acquired a new stake in shares of Etsy in the 3rd quarter valued at $257,614,000. SG Americas Securities LLC boosted its position in Etsy by 717.7% during the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after purchasing an additional 1,314,071 shares during the period. AQR Capital Management LLC boosted its position in Etsy by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after purchasing an additional 1,177,301 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Etsy by 1,648.1% during the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after purchasing an additional 666,253 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.