Pacer Advisors Inc. Buys 26,257 Shares of Etsy Inc $ETSY

Key Points

• Pacer Advisors increased its Etsy stake by 5.7% in the first quarter, acquiring 26,257 additional shares and bringing its holdings to 488,585 shares valued at approximately $24.4 million. Institutional investors collectively own 99.53% of Etsy.
• Etsy shares opened at $83.11, near their 52-week high of $87.26, with a market capitalization of $7.89 billion. The stock’s consensus analyst rating is “Hold”, with an average price target of $75.36.
• Insiders sold 527,344 Etsy shares worth approximately $38.7 million over the past three months, while analysts offered mixed views, including a price-target increase to $92 from Raymond James and a downgrade to “Neutral” from B. Riley.

Pacer Advisors Inc. grew its stake in shares of Etsy Inc (NYSE:ETSY - Free Report) by 5.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 488,585 shares of the company's stock after acquiring an additional 26,257 shares during the quarter. Pacer Advisors Inc. owned about 0.51% of Etsy worth $24,419,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its holdings in shares of Etsy by 19.1% during the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company's stock valued at $282,000 after buying an additional 961 shares during the last quarter. Empowered Funds LLC raised its holdings in Etsy by 55.5% in the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company's stock worth $456,000 after acquiring an additional 3,451 shares during the last quarter. Woodline Partners LP bought a new position in Etsy in the 1st quarter valued at approximately $2,181,000. Northwestern Mutual Wealth Management Co. lifted its position in Etsy by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company's stock valued at $180,000 after acquiring an additional 906 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in Etsy during the 2nd quarter valued at $232,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Price Performance

Shares of ETSY opened at $83.11 on Tuesday. Etsy Inc has a one year low of $44.00 and a one year high of $87.26. The firm has a market capitalization of $7.89 billion, a P/E ratio of 34.63, a PEG ratio of 3.20 and a beta of 1.84. The business has a fifty day moving average of $75.90 and a 200 day moving average of $63.07.

Insiders Place Their Bets

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.79, for a total transaction of $1,375,800.00. Following the completion of the sale, the director directly owned 461,329 shares in the company, valued at $31,734,821.91. The trade was a 4.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Merilee Buckley sold 881 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $75.35, for a total transaction of $66,383.35. Following the sale, the chief accounting officer directly owned 405 shares of the company's stock, valued at $30,516.75. The trade was a 68.51% decrease in their position. 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. Over the last three months, insiders have sold 527,344 shares of company stock valued at $38,681,336. Insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ETSY shares. B. Riley Financial lowered Etsy from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $70.00 to $75.00 in a report on Thursday, April 30th. Raymond James Financial upped their price target on Etsy from $75.00 to $92.00 and gave the company an "outperform" rating in a report on Tuesday, July 21st. Argus raised Etsy from a "hold" rating to a "buy" rating and set a $67.00 price objective on the stock in a research report on Thursday, May 21st. Sanford C. Bernstein lifted their price objective on Etsy from $60.00 to $65.00 and gave the stock a "market perform" rating in a report on Thursday, April 30th. Finally, Morgan Stanley set a $64.00 target price on Etsy in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Etsy currently has a consensus rating of "Hold" and an average price target of $75.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source