Insider Selling: Etsy (NYSE:ETSY) Director Sells $1,487,800.00 in Stock

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the transaction, the director directly owned 441,329 shares of the company’s stock, valued at $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Trading Down 0.3%

Shares of ETSY stock opened at $77.32 on Thursday. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $80.41. The stock’s 50-day moving average price is $68.27 and its 200-day moving average price is $59.91. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.83.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Arete Research set a $76.00 target price on Etsy and gave the company a “buy” rating in a research report on Wednesday, May 20th. Guggenheim initiated coverage on shares of Etsy in a research note on Thursday, May 21st. They set a “buy” rating on the stock. Sanford C. Bernstein increased 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. President Capital raised shares of Etsy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $91.00 in a research note on Thursday, June 25th. Finally, Cantor Fitzgerald boosted their target price on shares of Etsy from $51.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.80.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of the business. EFG International AG bought a new stake in shares of Etsy during the 4th quarter worth approximately $33,000. Blue Trust Inc. increased its stake in 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 purchasing an additional 200 shares during the period. Danske Bank A S purchased a new stake in Etsy in the third quarter worth $66,000. Federation des caisses Desjardins du Quebec lifted its position in shares of Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after purchasing an additional 225 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Etsy during the fourth quarter worth $79,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Recent analysis suggests Etsy is seeing a buyer rebound, with active buyers returning to sequential growth and spending per buyer improving, which could support revenue and cash flow if the trend continues. Etsy (ETSY) Buyers Return To Growth, Is The Stock Now Too Pricey?
• Positive Sentiment: Another report says Etsy’s first sequential increase in active buyers in two years, along with stronger app-based sales and personalized search/AI features, may be improving the investment case. Is Etsy’s Buyer Rebound and App Engagement Shift Altering The Investment Case For Etsy (ETSY)?
• Positive Sentiment: Analysts say Etsy’s AI seller tools could reduce friction for merchants, improve inventory quality, and help accelerate marketplace growth. Etsy’s Seller Tools Could Unlock Faster Marketplace Growth
• Neutral Sentiment: One valuation piece argues Etsy may look attractive on cash flow, but not necessarily cheap on earnings, leaving investors split on whether the stock is undervalued after its recent rebound. Is Etsy (ETSY) Stock Cheap On Cash Flow Or Expensive On Earnings?
• Negative Sentiment: ETSY saw additional insider selling, including CAO Merilee Buckley and Director Frederick Wilson, which can weigh on sentiment even though the trades were made under pre-arranged 10b5-1 plans. Insider Selling: Etsy (NYSE:ETSY) Director Sells 20,000 Shares of Stock
• Negative Sentiment: A market article also notes Etsy and CarGurus were trading down, reinforcing the weaker tone in the stock today. Etsy and CarGurus stocks trade down, what you need to know

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.