Etsy, Inc. (NASDAQ:ETSY) Insider Nicholas Daniel Sells 750 Shares

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $52.50, for a total transaction of $39,375.00. Following the completion of the transaction, the insider now directly 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 can be accessed through this hyperlink.

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 transaction 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 NASDAQ ETSY traded up $0.46 during mid-day trading on Tuesday, hitting $52.73. The stock had a trading volume of 3,321,791 shares, compared to its average volume of 3,765,768. The firm has a market cap of $6.05 billion, a PE ratio of 26.55, a PEG ratio of 6.19 and a beta of 1.99. The company has a 50 day moving average of $52.54 and a two-hundred day moving average of $57.91. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $89.58.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data 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 net margin of 9.17% and a negative return on equity of 46.79%. The firm had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts predict that Etsy, Inc. will post 2.27 EPS for the current fiscal year.

Etsy announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ETSY. Wells Fargo & Company cut their price target on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research note on Friday. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Etsy in a report on Monday, October 7th. Wedbush lowered their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus cut their price objective on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Etsy in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus price target of $64.87.

Institutional Trading of Etsy

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Etsy by 0.7% in the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock worth $929,695,000 after buying an additional 91,900 shares during the last quarter. Van ECK Associates Corp boosted its position in Etsy by 14.3% in the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after purchasing an additional 721,454 shares in the last quarter. Renaissance Technologies LLC grew its stake 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 worth $248,623,000 after purchasing an additional 734,200 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after purchasing an additional 721,453 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Etsy by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after purchasing an additional 221,275 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.