Bank of New York Mellon Corp Has $30.16 Million Stock Holdings in Etsy Inc $ETSY

Bank of New York Mellon Corp trimmed its position in Etsy Inc (NYSE:ETSY) by 2.0% during the first quarter, Holdings Channel reports. The firm owned 603,536 shares of the company’s stock after selling 12,332 shares during the quarter. Bank of New York Mellon Corp’s holdings in Etsy were worth $30,165,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Illinois Municipal Retirement Fund lifted its holdings in Etsy by 33.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 111,267 shares of the company’s stock valued at $5,561,000 after purchasing an additional 28,152 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Etsy by 23,028.6% during the first quarter. Hillsdale Investment Management Inc. now owns 80,950 shares of the company’s stock worth $4,046,000 after acquiring an additional 80,600 shares during the period. Principal Financial Group Inc. grew its position in shares of Etsy by 2.2% in the first quarter. Principal Financial Group Inc. now owns 478,999 shares of the company’s stock valued at $23,940,000 after purchasing an additional 10,410 shares during the last quarter. 180 Wealth Advisors LLC grew its position in shares of Etsy by 36.4% in the first quarter. 180 Wealth Advisors LLC now owns 17,035 shares of the company’s stock valued at $851,000 after purchasing an additional 4,543 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Etsy by 3,302.4% during the first quarter. Fifth Third Bancorp now owns 23,613 shares of the company’s stock worth $1,180,000 after purchasing an additional 22,919 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Etsy

In other news, Director Frederick R. Wilson sold 20,000 shares of the company’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 completion of the transaction, the director directly owned 441,329 shares in the company, valued at approximately $32,830,464.31. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the transaction, the insider owned 130,694 shares of the company’s stock, valued at $9,003,509.66. This trade represents a 50.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 658,943 shares of company stock worth $47,305,981. Company insiders own 2.50% of the company’s stock.

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analysts say Etsy’s app-led loyalty push is boosting engagement, conversion, and buyer lifetime value, while mobile gross merchandise sales growth accelerates and personalized features gain traction. Can Etsy’s Loyalty Initiatives Unlock Higher Buyer Lifetime Value?
• Positive Sentiment: Etsy’s collaboration with Olivia Rodrigo on a handmade Daisy Chain Fields merch and accessory collection highlights stronger brand visibility and could support traffic and marketplace activity. Olivia Rodrigo Creates Adorable Festival Accessory Line for Daisy Chain Fields With 10 Female Etsy Sellers
• Positive Sentiment: Another note argues Etsy has the ingredients to beat estimates again in its next earnings report, reinforcing expectations for solid near-term financial results. Will Etsy (ETSY) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: One article says Etsy fits an ideal LBO target profile, which may attract takeover speculation but does not by itself change fundamentals. These 4 Stocks Fit the Ideal LBO Target Profile Right Now
• Neutral Sentiment: Coverage also showed Etsy maintaining a consensus “Hold” rating, suggesting analysts remain cautious overall even amid improving sentiment. Etsy Inc (NYSE:ETSY) Given Consensus Recommendation of “Hold” by Analysts

Etsy Stock Up 0.1%

Shares of ETSY stock opened at $80.74 on Monday. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $87.14. The company has a market cap of $7.66 billion, a P/E ratio of 33.64, a P/E/G ratio of 3.16 and a beta of 1.83. The business has a fifty day simple moving average of $73.08 and a 200 day simple moving average of $62.12.

Wall Street Analyst Weigh In

A number of brokerages have commented on ETSY. Susquehanna lowered Etsy to a “neutral” rating in a report on Thursday, May 21st. Truist Financial lifted their target price on Etsy from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $80.00 target price on shares of Etsy in a research report on Monday, July 20th. Barclays lifted their price objective on shares of Etsy from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, 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 report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.36.

Etsy 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.