Etsy, Inc. (NASDAQ:ETSY) Insider Sells $39,375.00 in Stock

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $52.50, for a total transaction of $39,375.00. Following the sale, the insider now directly owns 24,371 shares in the company, valued at $1,279,477.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nicholas Daniel also recently made the following trade(s):

• On Tuesday, October 1st, Nicholas Daniel sold 750 shares of Etsy stock. The shares were sold at an average price of $53.15, for a total value of $39,862.50.
• On Tuesday, September 3rd, Nicholas Daniel sold 750 shares of Etsy stock. The stock was sold at an average price of $55.40, for a total value of $41,550.00.

Etsy Stock Up 0.9 %

Shares of ETSY opened at $52.73 on Wednesday. The stock has a market capitalization of $6.05 billion, a P/E ratio of 26.90, a PEG ratio of 6.19 and a beta of 1.99. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $89.58. The firm has a fifty day simple moving average of $52.54 and a two-hundred day simple moving average of $57.91.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The firm had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Sell-side analysts expect that Etsy, Inc. will post 2.27 EPS for the current fiscal year.

Etsy declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares in the last quarter. UMB Bank n.a. raised its stake in Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares in the last quarter. Larson Financial Group LLC boosted its position in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Etsy during the 2nd quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Etsy during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ETSY shares. Loop Capital reduced their price target on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Raymond James decreased their target price on Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wolfe Research initiated coverage on Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Etsy in a report on Monday, October 7th. Finally, Stifel Nicolaus lowered their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.87.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.