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

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the transaction, the director owned 441,329 shares of the company’s stock, valued at approximately $32,830,464.31. This represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Down 2.2%

Shares of NYSE:ETSY traded down $1.73 during midday trading on Monday, reaching $75.24. The company had a trading volume of 2,419,455 shares, compared to its average volume of 3,365,861. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $80.41. The stock has a market cap of $7.14 billion, a PE ratio of 31.35, a P/E/G ratio of 3.20 and a beta of 1.83. The business’s 50 day moving average price is $67.49 and its 200 day moving average price is $59.42.

Institutional Trading of Etsy

A number of hedge funds have recently modified their holdings of the stock. EFG International AG acquired a new position in Etsy in the 4th quarter valued at about $33,000. 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 worth $62,000 after acquiring an additional 200 shares during the last quarter. Danske Bank A S bought a new stake in shares of Etsy during the third quarter worth approximately $66,000. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Etsy by 22.8% during the fourth 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 period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Etsy in the fourth quarter valued at approximately $79,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of analyst reports. Morgan Stanley set a $64.00 price objective on Etsy in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on shares of Etsy from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, June 12th. B. Riley Financial lowered shares of Etsy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $70.00 to $75.00 in a research report on Thursday, April 30th. Evercore set a $72.00 price target on shares of Etsy in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company lifted 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.80.

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.