Insider Selling: Etsy (NYSE:ETSY) Insider Sells $677,406.68 in Stock

Etsy Inc (NYSE:ETSY) insider Richard Edward Colburn III sold 8,252 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the sale, the insider directly owned 6,503 shares in the company, valued at approximately $533,831.27. This represents a 55.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

ETSY opened at $80.07 on Friday. The stock has a 50-day moving average price of $78.65 and a 200-day moving average price of $64.37. The firm has a market cap of $7.60 billion, a PE ratio of 44.73, a P/E/G ratio of 5.53 and a beta of 1.84. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97.

Hedge Funds Weigh In On Etsy

A number of hedge funds have recently bought and sold shares of ETSY. Renaissance Technologies LLC boosted its holdings in shares of Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after acquiring an additional 594,768 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Etsy by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after purchasing an additional 1,177,301 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after purchasing an additional 39,067 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after purchasing an additional 1,112,520 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Etsy by 48.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock valued at $121,532,000 after purchasing an additional 523,092 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

ETSY has been the subject of a number of analyst reports. 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 note on Thursday, April 30th. Needham & Company LLC upped their target price on shares of Etsy from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. B. Riley Financial increased their price target on shares of Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday. Truist Financial raised their price target on shares of Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, President Capital upgraded shares of Etsy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $91.00 in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price 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.