Van ECK Associates Corp Acquires 39,067 Shares of Etsy Inc $ETSY

Van ECK Associates Corp increased its holdings in shares of Etsy Inc (NYSE:ETSY) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,734,156 shares of the company’s stock after acquiring an additional 39,067 shares during the quarter. Van ECK Associates Corp owned approximately 3.78% of Etsy worth $207,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in shares of Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after buying an additional 158 shares during the last quarter. Alamea Verwaltungs GmbH raised its position in Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after acquiring an additional 169 shares during the period. PNC Financial Services Group Inc. raised its position in Etsy by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock worth $419,000 after acquiring an additional 180 shares during the period. GAMMA Investing LLC raised its position in Etsy by 6.6% in the fourth quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock worth $185,000 after acquiring an additional 205 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in Etsy by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock worth $1,250,000 after acquiring an additional 224 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other news, Director Frederick R. Wilson sold 20,000 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $61.63, for a total value of $1,232,600.00. Following the transaction, the director owned 481,329 shares of the company’s stock, valued at approximately $29,664,306.27. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the completion of the transaction, the insider directly owned 130,694 shares in the company, valued at $9,003,509.66. This trade represents a 50.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 451,509 shares of company stock worth $29,518,662 in the last three months. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ETSY. Stifel Nicolaus decreased their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. Argus upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Thursday, May 21st. Needham & Company LLC increased their price target on shares of Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Sanford C. Bernstein lifted their price target on shares of Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $71.00.

Etsy Stock Performance

ETSY stock opened at $69.47 on Friday. Etsy Inc has a one year low of $44.00 and a one year high of $76.51. The company’s fifty day moving average price is $62.07 and its 200-day moving average price is $57.14. The company has a market capitalization of $6.59 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 2.87 and a beta of 1.88.

Etsy 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.