Insider Selling: Etsy, Inc. (NASDAQ:ETSY) Insider Sells 750 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $52.50, for a total value of $39,375.00. Following the completion of the sale, the insider now owns 24,371 shares in the company, valued at $1,279,477.50. This represents a 0.00 % decrease in their position. The transaction 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 stock was 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 Performance

Shares of ETSY stock opened at $53.08 on Thursday. Etsy, Inc. has a fifty-two week low of $47.10 and a fifty-two week high of $89.58. The company has a market cap of $6.09 billion, a PE ratio of 27.08, a P/E/G ratio of 6.19 and a beta of 1.99. The stock’s fifty day moving average price is $52.45 and its two-hundred day moving average price is $57.78.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. During the same period last year, the business earned $0.64 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. On average, equities analysts predict that Etsy, Inc. will post 2.27 EPS for the current fiscal year.

Etsy announced that its board has authorized a stock buyback plan on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 17.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

ETSY has been the topic of a number of recent research reports. Raymond James lowered 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. Evercore ISI upgraded Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Truist Financial lowered their target price on Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Bank of America reduced their price target on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Finally, Loop Capital reduced their price target on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Etsy presently has a consensus rating of “Hold” and an average target price of $64.87.

Institutional Investors Weigh In On Etsy

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Etsy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after acquiring an additional 91,900 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after acquiring an additional 721,454 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after acquiring an additional 734,200 shares in the last quarter. Pacer Advisors Inc. raised its position in Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after purchasing an additional 721,453 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Etsy by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after purchasing an additional 221,275 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

About Etsy

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.