Insider Selling: Etsy (NASDAQ:ETSY) Director Sells 300 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) Director Marla Blow sold 300 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $52.35, for a total value of $15,705.00. Following the sale, the director directly owned 9,191 shares of the company’s stock, valued at $481,148.85. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Etsy Stock Performance

Shares of NASDAQ ETSY traded up $1.55 during trading hours on Friday, hitting $53.12. The stock had a trading volume of 4,123,740 shares, compared to its average volume of 5,030,050. The firm’s 50-day moving average price is $65.26 and its two-hundred day moving average price is $59.19. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51. The company has a market capitalization of $5.24 billion, a P/E ratio of 42.83, a P/E/G ratio of 10.65 and a beta of 1.87.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $678.03 million for the quarter, compared to analyst estimates of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. As a group, analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ETSY shares. Jefferies Financial Group raised their price target on Etsy from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Raymond James Financial reissued an “outperform” rating and set a $78.00 target price (down from $80.00) on shares of Etsy in a research report on Thursday, October 30th. Guggenheim restated a “buy” rating and issued a $70.00 price objective on shares of Etsy in a research note on Thursday, September 18th. The Goldman Sachs Group lifted their target price on shares of Etsy from $48.00 to $57.00 and gave the company a “sell” rating in a research report on Thursday, October 30th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Etsy has an average rating of “Hold” and a consensus price target of $64.24.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Heritage Wealth Advisors boosted its position in Etsy by 476.5% in the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 405 shares during the last quarter. Signaturefd LLC raised its position in shares of Etsy by 52.7% during the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 192 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Etsy during the second quarter valued at $35,000. SVB Wealth LLC bought a new position in Etsy in the first quarter valued at about $36,000. Finally, Salomon & Ludwin LLC bought a new position in Etsy in the third quarter valued at about $55,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.