Legal & General Group Plc Sells 60,187 Shares of Etsy Inc $ETSY

Legal & General Group Plc reduced its position in Etsy Inc (NYSE:ETSY) by 18.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 275,096 shares of the company’s stock after selling 60,187 shares during the period. Legal & General Group Plc’s holdings in Etsy were worth $15,209,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board lifted its position in shares of Etsy by 21.2% in the third quarter. Public Sector Pension Investment Board now owns 430,824 shares of the company’s stock valued at $28,602,000 after buying an additional 75,295 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Etsy by 1,648.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after acquiring an additional 666,253 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Etsy by 33.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock worth $10,369,000 after acquiring an additional 47,105 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Etsy in the 3rd quarter valued at $257,614,000. Finally, Crossmark Global Holdings Inc. raised its stake in Etsy by 338.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock valued at $5,738,000 after acquiring an additional 79,888 shares during the period. Institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ETSY shares. Evercore set a $72.00 price objective on shares of Etsy in a research report on Wednesday, April 29th. Barclays increased 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. Citigroup initiated coverage on shares of Etsy in a report on Thursday, May 21st. They set an “outperform” rating for the company. The Goldman Sachs Group upgraded shares of Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Finally, Guggenheim initiated coverage on shares of Etsy in a report on Thursday, May 21st. They issued a “buy” rating on the stock. One investment 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $70.88.

Insider Buying and Selling at Etsy

In other Etsy news, insider Josh Silverman sold 88,350 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $64.18, for a total value of $5,670,303.00. Following the completion of the sale, the insider owned 130,694 shares of the company’s stock, valued at $8,387,940.92. The trade was a 40.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $65.09, for a total transaction of $310,869.84. Following the transaction, the insider owned 6,503 shares in the company, valued at approximately $423,280.27. The trade was a 42.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 296,779 shares of company stock valued at $18,861,313 in the last three months. 2.50% of the stock is owned by insiders.

Etsy Stock Performance

ETSY opened at $69.58 on Wednesday. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $76.51. The company has a market capitalization of $6.60 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.85 and a beta of 1.88. The stock has a fifty day moving average of $58.66 and a 200-day moving average of $56.34.

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.