Hennion & Walsh Asset Management Inc. Purchases New Shares in Etsy Inc $ETSY

Hennion & Walsh Asset Management Inc. acquired a new position in shares of Etsy Inc (NYSE:ETSY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,537 shares of the company’s stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETSY. EFG International AG acquired a new position in shares of Etsy during the 4th quarter worth approximately $33,000. Blue Trust Inc. raised its position in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares in the last quarter. Danske Bank A S bought a new stake in shares of Etsy in the third quarter valued at approximately $66,000. Federation des caisses Desjardins du Quebec grew its holdings in shares of Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after purchasing an additional 225 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Etsy during the 4th quarter worth $79,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, insider Josh Silverman sold 6,294 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.00, for a total transaction of $528,696.00. Following the sale, the insider directly owned 249,559 shares of the company’s stock, valued at $20,962,956. The trade was a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 1,564 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $85.88, for a total transaction of $134,316.32. Following the transaction, the chief financial officer directly owned 11,357 shares of the company’s stock, valued at $975,339.16. The trade was a 12.10% 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. Insiders sold 604,262 shares of company stock worth $45,085,166 over the last quarter. Insiders own 2.50% of the company’s stock.

Etsy Stock Down 0.7%

NYSE ETSY opened at $80.07 on Friday. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 5.53 and a beta of 1.84. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $87.97. The business’s fifty day moving average is $78.65 and its 200 day moving average is $64.37.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Arete Research set a $76.00 price target on Etsy and gave the company a “buy” rating in a research note on Wednesday, May 20th. Bank of America increased their price objective on shares of Etsy from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Cantor Fitzgerald raised their target price on shares of Etsy from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 7th. B. Riley Financial boosted their target price on shares of Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $81.50.

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.