Pacer Advisors Inc. Boosts Stake in Etsy Inc $ETSY

Pacer Advisors Inc. increased its stake in Etsy Inc (NYSE:ETSY) by 5.7% during the first quarter, Holdings Channel.com reports. The firm owned 488,585 shares of the company’s stock after purchasing an additional 26,257 shares during the quarter. Pacer Advisors Inc.’s holdings in Etsy were worth $24,419,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of ETSY. EFG International AG purchased a new stake in Etsy in the fourth quarter worth about $33,000. Blue Trust Inc. lifted its position in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares in the last quarter. Danske Bank A S purchased a new position in shares of Etsy during the 3rd quarter valued at about $66,000. Federation des caisses Desjardins du Quebec grew its stake in shares of Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Etsy during the 4th quarter valued at approximately $79,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ETSY shares. Citigroup assumed coverage on shares of Etsy in a report on Thursday, May 21st. They issued an “outperform” rating for the company. Raymond James Financial upped their price target on shares of Etsy from $75.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Zacks Research cut shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Susquehanna cut shares of Etsy to a “neutral” rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company raised their price objective on shares of Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.36.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 881 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $75.35, for a total transaction of $66,383.35. Following the completion of the sale, the chief accounting officer directly owned 405 shares of the company’s stock, valued at $30,516.75. This trade represents a 68.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 39,161 shares of Etsy stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $79.00, for a total transaction of $3,093,719.00. Following the sale, the insider owned 139,884 shares in the company, valued at approximately $11,050,836. The trade was a 21.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 527,344 shares of company stock valued at $38,681,336 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

Etsy Trading Up 1.7%

Shares of ETSY opened at $83.11 on Tuesday. The business’s 50 day moving average is $75.90 and its 200 day moving average is $63.07. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.26. The company has a market capitalization of $7.89 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 3.20 and a beta of 1.84.

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.