Charles Andrew Ballard Sells 4,500 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) Director Charles Andrew Ballard sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $81.85, for a total value of $368,325.00. Following the completion of the sale, the director directly owned 4,239 shares of the company’s stock, valued at $346,962.15. This represents a 51.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Etsy Price Performance

Shares of ETSY stock opened at $83.79 on Friday. The business’s fifty day moving average price is $80.83 and its 200 day moving average price is $66.23. The firm has a market capitalization of $7.95 billion, a PE ratio of 46.81, a P/E/G ratio of 4.04 and a beta of 1.84. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97.

Etsy (NYSE:ETSY) last released its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The business 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 last year, the business posted $0.25 EPS. Equities research analysts expect that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

ETSY has been the topic of several recent analyst reports. Needham & Company LLC upped their target price on shares of Etsy from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Evercore set a $83.00 price target on Etsy in a research note on Thursday, August 6th. Seaport Research Partners raised Etsy to a “buy” rating in a research note on Thursday, August 20th. Zacks Research cut Etsy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Canaccord Genuity Group set a $92.00 target price on Etsy in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus target price of $84.68.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP grew its holdings in Etsy by 226.0% during the 2nd quarter. Corient Private Wealth LP now owns 73,639 shares of the company’s stock valued at $5,547,000 after buying an additional 51,050 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Etsy in the second quarter worth $1,612,000. California State Teachers Retirement System raised its holdings in shares of Etsy by 7,217.3% in the second quarter. California State Teachers Retirement System now owns 7,561,851 shares of the company’s stock worth $569,634,000 after acquiring an additional 7,458,509 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Etsy in the second quarter valued at $675,000. Finally, Wedmont Private Capital purchased a new stake in shares of Etsy in the second quarter valued at $243,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.