Insider Selling: Etsy (NYSE:ETSY) Insider Sells $318,898.32 in Stock

Etsy Inc (NYSE:ETSY) insider Richard Colburn, III sold 4,472 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $71.31, for a total value of $318,898.32. Following the transaction, the insider directly owned 6,503 shares of the company’s stock, valued at approximately $463,728.93. This represents a 40.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Richard Edward Colburn III also recently made the following trade(s):

• On Thursday, September 3rd, Richard Colburn, III sold 2,913 shares of Etsy stock. The shares were sold at an average price of $82.11, for a total transaction of $239,186.43.
• On Monday, August 10th, Richard Colburn, III sold 8,252 shares of Etsy stock. The stock was sold at an average price of $82.09, for a total value of $677,406.68.

Etsy Stock Up 2.2%

ETSY opened at $76.79 on Friday. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.97. The business’s 50 day moving average is $77.20 and its two-hundred day moving average is $70.78. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 42.90, a price-to-earnings-growth ratio of 1.88 and a beta of 1.86.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. Etsy’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. Equities analysts expect that Etsy Inc will post 3.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Etsy

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Etsy during the second quarter worth about $1,045,000. Ieq Capital LLC acquired a new stake in Etsy during the 2nd quarter valued at $4,083,000. Landscape Capital Management L.L.C. acquired a new stake in Etsy during the 2nd quarter valued at $6,466,000. Public Employees Retirement System of Ohio acquired a new position in shares of Etsy in the second quarter worth $2,144,000. Finally, Bank of Nova Scotia acquired a new position in shares of Etsy in the second quarter worth $18,602,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Zacks Research downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. The Goldman Sachs Group started coverage on Etsy in a research note on Monday, August 17th. They set a “neutral” rating and a $89.00 price target for the company. Wedbush began coverage on shares of Etsy in a research note on Thursday, July 16th. They issued a “neutral” rating and a $80.00 target price for the company. Loop Capital set a $105.00 price target on shares of Etsy in a research note on Thursday, August 20th. Finally, Citigroup lifted their price objective on Etsy from $60.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.21.

About Etsy

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.