Insider Selling: Etsy (NYSE:ETSY) Director Sells $1,664,400.00 in Stock

Key Points

• Etsy director Frederick Wilson sold 20,000 shares for approximately $1.66 million at an average price of $83.22 under a pre-arranged Rule 10b5-1 trading plan, reducing his stake by 4.53%.
• Etsy shares rose to $86.48 and are near their 52-week high of $87.26, with a market capitalization of about $8.21 billion.
• Analysts maintain a consensus “Hold” rating with a $75.36 price target, while institutional investors collectively own 99.53% of the company.

Etsy Inc (NYSE:ETSY - Get Free Report) Director Frederick Wilson sold 20,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total value of $1,664,400.00. Following the sale, the director owned 421,329 shares in the company, valued at approximately $35,062,999.38. This represents a 4.53% decrease in their position. The transaction was disclosed in a filing 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 Price Performance

Shares of Etsy stock traded up $3.31 during trading hours on Tuesday, reaching $86.48. The company had a trading volume of 3,016,285 shares, compared to its average volume of 3,234,977. The firm has a market cap of $8.21 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 3.20 and a beta of 1.84. Etsy Inc has a one year low of $44.00 and a one year high of $87.26. The business has a fifty day simple moving average of $75.90 and a 200 day simple moving average of $63.07.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Guggenheim assumed coverage on Etsy in a report on Thursday, May 21st. They set a "buy" rating for the company. Barclays increased their price target on shares of Etsy from $72.00 to $82.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Sanford C. Bernstein raised their price objective on shares of Etsy from $60.00 to $65.00 and gave the company a "market perform" rating in a research report on Thursday, April 30th. Raymond James Financial boosted their price objective on shares of Etsy from $75.00 to $92.00 and gave the company an "outperform" rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group upped their target price on shares of Etsy from $62.00 to $80.00 and gave the stock a "hold" rating in a report on Tuesday, July 14th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $75.36.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. EFG International AG purchased a new position in shares of Etsy during the 4th quarter valued at about $33,000. Danske Bank A S purchased a new stake in Etsy in the third quarter worth approximately $66,000. CoreCap Advisors LLC boosted its stake in Etsy by 2,379.1% in the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company's stock worth $80,000 after buying an additional 1,023 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its position in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock valued at $67,000 after acquiring an additional 225 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

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.

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