Etsy (NYSE:ETSY) Insider Richard Edward Colburn III Sells 8,252 Shares

Key Points

• Insider sale: Richard Edward Colburn III sold 8,252 Etsy shares for approximately $677,407 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 55.93% to 6,503 shares.
• Stock performance: Etsy shares recently traded at $79.56, with a market capitalization of $7.55 billion and a 52-week range of $44.00 to $87.97.
• Analyst outlook: Ratings remain mixed, producing a consensus “Hold” recommendation and an average price target of $81.50; JPMorgan recently raised its target to $100 and upgraded the stock to “Overweight.”

Etsy Inc (NYSE:ETSY - Get Free Report) insider Richard Edward Colburn III sold 8,252 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $82.09, for a total value of $677,406.68. Following the sale, the insider owned 6,503 shares of the company's stock, valued at approximately $533,831.27. This represents a 55.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Performance

Shares of NYSE ETSY traded up $0.08 during midday trading on Wednesday, hitting $79.56. 2,754,262 shares of the company's stock traded hands, compared to its average volume of 3,293,934. The firm has a fifty day moving average of $77.88 and a 200 day moving average of $64.00. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 44.45, a price-to-earnings-growth ratio of 5.94 and a beta of 1.84.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently modified their holdings of ETSY. William Blair Investment Management LLC purchased a new position in shares of Etsy in the second quarter worth $120,417,000. SG Americas Securities LLC increased its holdings in Etsy by 717.7% in the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company's stock valued at $74,829,000 after acquiring an additional 1,314,071 shares during the last quarter. AQR Capital Management LLC increased its holdings in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company's stock valued at $227,785,000 after acquiring an additional 1,177,301 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company's stock worth $163,841,000 after purchasing an additional 1,112,520 shares in the last quarter. Finally, Findlay Park Partners LLP purchased a new stake in Etsy in the 2nd quarter worth $66,170,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETSY has been the topic of several recent research reports. Zacks Research downgraded shares of Etsy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised shares of Etsy from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Friday, August 7th. Truist Financial raised their target price on Etsy from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on Etsy from $74.00 to $75.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. Finally, Wedbush assumed coverage on Etsy in a report on Thursday, July 16th. They set a "neutral" rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $81.50.

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.

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