Insider Selling: Etsy (NYSE:ETSY) Director Sells $1,375,800.00 in Stock

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the stock in a transaction dated 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 transaction, the director owned 461,329 shares of the company’s stock, valued at $31,734,821.91. This represents a 4.16% 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 Down 0.2%

NYSE:ETSY opened at $66.90 on Friday. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $76.51. The company has a 50-day moving average of $60.03 and a 200-day moving average of $56.59. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 2.77 and a beta of 1.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ETSY. EFG International AG acquired a new position in shares of Etsy in the fourth quarter worth about $33,000. Abich Financial Wealth Management LLC acquired a new position in shares of Etsy in the third quarter worth about $51,000. Blue Trust Inc. boosted its holdings in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after buying an additional 200 shares during the period. Danske Bank A S acquired a new position in shares of Etsy in the third quarter worth about $66,000. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after buying an additional 225 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETSY has been the subject of several research reports. Raymond James Financial lowered shares of Etsy from an “outperform” rating to an “outperform” rating in a research report on Thursday, May 21st. Sanford C. Bernstein raised their price objective on shares of Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, April 30th. Barclays raised their price objective on shares of Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Needham & Company LLC raised their price objective on shares of Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group upgraded shares of Etsy from a “sell” rating to a “neutral” rating in a research report on Thursday, May 21st. One equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.