Pacer Advisors Inc. Sells 19,569 Shares of Etsy Inc $ETSY

Pacer Advisors Inc. trimmed its holdings in shares of Etsy Inc (NYSE:ETSY) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 462,328 shares of the company’s stock after selling 19,569 shares during the quarter. Pacer Advisors Inc.’s holdings in Etsy were worth $25,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Compound Planning Inc. increased its holdings in Etsy by 16.6% during the fourth quarter. Compound Planning Inc. now owns 4,000 shares of the company’s stock valued at $222,000 after buying an additional 570 shares during the last quarter. Invesco Ltd. grew its position in shares of Etsy by 26.8% during the 4th quarter. Invesco Ltd. now owns 361,193 shares of the company’s stock valued at $20,025,000 after acquiring an additional 76,379 shares during the period. Rare Wolf Capital LLC purchased a new stake in shares of Etsy in the 4th quarter worth $1,247,000. Corient Private Wealth LLC increased its stake in shares of Etsy by 33.7% in the 4th quarter. Corient Private Wealth LLC now owns 23,023 shares of the company’s stock worth $1,276,000 after purchasing an additional 5,797 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Etsy by 64.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 39,736 shares of the company’s stock worth $2,203,000 after purchasing an additional 15,596 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Up 0.1%

ETSY opened at $74.03 on Friday. The company has a market capitalization of $7.02 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 2.95 and a beta of 1.88. The firm has a 50-day simple moving average of $64.09 and a two-hundred day simple moving average of $57.82. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $76.51.

Insider Buying and Selling

In other news, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the transaction, the insider owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $61.63, for a total value of $1,232,600.00. Following the completion of the sale, the director owned 481,329 shares in the company, valued at approximately $29,664,306.27. The trade was a 3.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 553,988 shares of company stock valued at $37,027,108 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup assumed coverage on Etsy in a report on Thursday, May 21st. They set an “outperform” rating for the company. Susquehanna downgraded Etsy to a “neutral” rating in a research note on Thursday, May 21st. Truist Financial increased their target price on shares of Etsy from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Jefferies Financial Group downgraded shares of Etsy from a “hold” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Zacks Research upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $71.00.

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.