Van ECK Associates Corp Acquires 39,067 Shares of Etsy Inc $ETSY

Van ECK Associates Corp increased its holdings in Etsy Inc (NYSE:ETSY) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,734,156 shares of the company’s stock after purchasing an additional 39,067 shares during the period. Van ECK Associates Corp’s holdings in Etsy were worth $207,022,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Abich Financial Wealth Management LLC purchased a new stake in shares of Etsy in the third quarter valued at $51,000. Danske Bank A S bought a new stake in shares of Etsy in the 3rd quarter worth about $66,000. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after acquiring an additional 225 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Etsy in the 4th quarter worth about $79,000. Finally, LSV Asset Management bought a new stake in shares of Etsy in the 3rd quarter worth about $86,000. Institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ETSY shares. UBS Group upgraded shares of Etsy from a “neutral” rating to a “neutral” rating in a report on Thursday, May 21st. Guggenheim started coverage on shares of Etsy in a report on Thursday, May 21st. They issued a “buy” rating for the company. Susquehanna lowered shares of Etsy to a “neutral” rating in a report on Thursday, May 21st. Sanford C. Bernstein raised their target price on shares of Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, April 30th. Finally, Evercore set a $72.00 price target on shares of Etsy in a report on Wednesday, April 29th. One equities 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. According to MarketBeat, Etsy presently has a consensus rating of “Hold” and an average price target of $71.00.

Insider Activity

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the 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 directly owned 481,329 shares in the company, valued at $29,664,306.27. This represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock in a transaction dated 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 in the company, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 451,509 shares of company stock worth $29,518,662. 2.50% of the stock is owned by company insiders.

Etsy Price Performance

Shares of Etsy stock opened at $69.47 on Friday. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $76.51. The firm’s 50-day moving average is $62.07 and its two-hundred day moving average is $57.14. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.87 and a beta of 1.88.

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.