Frederick Wilson Sells 20,000 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.63, for a total transaction of $1,232,600.00. Following the completion of the sale, the director owned 481,329 shares of the company’s stock, valued at approximately $29,664,306.27. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Down 1.0%

Shares of NYSE:ETSY opened at $63.71 on Thursday. The company has a market cap of $6.05 billion, a P/E ratio of 26.54, a PEG ratio of 5.82 and a beta of 1.89. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $76.51. The company has a 50-day moving average price of $57.87 and a 200 day moving average price of $56.20.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of Etsy in a research report on Thursday, May 21st. They set a “buy” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Etsy from $58.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. BTIG Research lifted their price target on shares of Etsy from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Needham & Company LLC lifted their price target 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, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Etsy from $74.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC grew its stake in Etsy by 19.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after acquiring an additional 961 shares during the period. Empowered Funds LLC grew its stake in Etsy by 55.5% in the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after acquiring an additional 3,451 shares during the period. Woodline Partners LP purchased a new stake in Etsy in the 1st quarter worth approximately $2,181,000. Northwestern Mutual Wealth Management Co. grew its stake in Etsy by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after acquiring an additional 906 shares during the period. Finally, M&T Bank Corp purchased a new stake in Etsy in the 2nd quarter worth approximately $232,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.