First Trust Advisors LP Buys 7,560 Shares of Etsy Inc $ETSY

First Trust Advisors LP lifted its stake in Etsy Inc (NYSE:ETSY) by 4.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 195,576 shares of the company’s stock after buying an additional 7,560 shares during the quarter. First Trust Advisors LP owned approximately 0.21% of Etsy worth $9,775,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its holdings in Etsy by 19.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock valued at $282,000 after acquiring an additional 961 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Etsy by 55.5% during the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after purchasing an additional 3,451 shares during the last quarter. Woodline Partners LP bought a new position in shares of Etsy during the 1st quarter valued at about $2,181,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Etsy by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock valued at $180,000 after purchasing an additional 906 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in shares of Etsy during the second quarter valued at about $232,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 1.7%

Shares of NYSE ETSY opened at $81.72 on Friday. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.26. The firm’s 50-day moving average price is $75.49 and its 200-day moving average price is $62.90. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 3.26 and a beta of 1.83.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ETSY shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $80.00 target price on shares of Etsy in a research report on Monday, July 20th. Jefferies Financial Group raised their price target on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Needham & Company LLC lifted their price objective on Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wedbush began coverage on Etsy in a report on Thursday, July 16th. They set a “neutral” rating and a $80.00 price objective on the stock. Finally, Raymond James Financial upped their price objective on Etsy from $75.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average target price of $75.36.

Insiders Place Their Bets

In other news, CAO Merilee Buckley sold 881 shares of Etsy stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $75.35, for a total value of $66,383.35. Following the completion of the transaction, the chief accounting officer owned 405 shares in the company, valued at approximately $30,516.75. The trade was a 68.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Etsy stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total value of $1,487,800.00. Following the completion of the transaction, the director owned 441,329 shares of the company’s stock, valued at approximately $32,830,464.31. This trade represents a 4.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 534,150 shares of company stock valued at $39,121,111 over the last ninety days. 2.50% of the stock is owned by insiders.

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.