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

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the company’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 transaction, the director owned 481,329 shares in the company, valued at $29,664,306.27. The trade was a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Trading Up 2.9%

Shares of NYSE:ETSY opened at $64.21 on Wednesday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 5.64 and a beta of 1.89. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51. The firm’s 50-day moving average is $57.66 and its 200 day moving average is $56.15.

Institutional Trading of Etsy

A number of hedge funds have recently bought and sold shares of the stock. EFG International AG purchased a new stake in Etsy during the fourth quarter valued at approximately $33,000. Abich Financial Wealth Management LLC purchased a new stake in Etsy during the third quarter valued at approximately $51,000. Blue Trust Inc. lifted its position in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares during the last quarter. Danske Bank A S purchased a new stake in Etsy during the third quarter valued at approximately $66,000. Finally, Federation des caisses Desjardins du Quebec lifted its position in Etsy by 22.8% during the fourth 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 last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Evercore set a $72.00 price objective on shares of Etsy in a research report on Wednesday, April 29th. Canaccord Genuity Group boosted their price objective on shares of Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Etsy from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Roth Mkm initiated coverage on shares of Etsy in a research report on Thursday, May 21st. They issued a “buy” rating for the company. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $70.75.

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.