Etsy, Inc. (NASDAQ:ETSY – Get Free Report) insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Etsy Stock Down 1.6 %
ETSY opened at $53.96 on Wednesday. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.69 and a beta of 2.00. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $80.30. The business has a 50 day moving average of $55.17 and a 200-day moving average of $54.31.
Etsy declared that its board has approved a share buyback program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on ETSY
Hedge Funds Weigh In On Etsy
Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of 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 during the last quarter. UMB Bank n.a. raised its holdings in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares during the period. Kestra Investment Management LLC acquired a new stake in Etsy during the fourth quarter worth approximately $38,000. Capital Performance Advisors LLP bought a new stake in shares of Etsy during the third quarter worth approximately $43,000. Finally, Versant Capital Management Inc grew its position in shares of Etsy by 153.1% in the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.
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.
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