Insider Selling: Etsy, Inc. (NASDAQ:ETSY) Director Sells 450 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) Director Marla J. Blow sold 450 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $51.64, for a total transaction of $23,238.00. Following the sale, the director now owns 5,773 shares of the company’s stock, valued at approximately $298,117.72. This represents a 7.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Etsy Price Performance

ETSY traded up $0.31 during trading on Friday, reaching $52.30. The company had a trading volume of 2,374,990 shares, compared to its average volume of 3,740,319. The company has a market cap of $5.88 billion, a P/E ratio of 26.68, a PEG ratio of 5.95 and a beta of 1.99. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $89.58. The business’s fifty day moving average price is $52.03 and its 200 day moving average price is $56.75.

Etsy (NASDAQ:ETSY) last announced 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). Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The company had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. During the same period in the previous year, the company posted $0.64 earnings per share. Etsy’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Etsy, Inc. will post 2.25 EPS for the current fiscal year.

Etsy declared that its board has initiated a share buyback program on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after buying an additional 231 shares in the last quarter. UMB Bank n.a. boosted its position in Etsy by 112.3% during the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Etsy during the second quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new position in Etsy in the third quarter valued at approximately $43,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Etsy during the 3rd quarter worth approximately $59,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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. Stifel Nicolaus reduced their price objective on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Wedbush decreased their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Etsy in a research report on Thursday, October 31st. Finally, Evercore ISI raised shares of Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.