Etsy (NYSE:ETSY) CFO Sells $128,905.00 in Stock

Etsy Inc (NYSE:ETSYGet Free Report) CFO Charles Baker sold 2,030 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total transaction of $128,905.00. Following the sale, the chief financial officer directly owned 6,913 shares in the company, valued at $438,975.50. This trade represents a 22.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Etsy Stock Down 1.7%

Shares of ETSY traded down $1.12 during trading hours on Tuesday, reaching $62.92. 2,780,985 shares of the company traded hands, compared to its average volume of 3,530,568. The company has a market capitalization of $5.97 billion, a PE ratio of 26.22, a P/E/G ratio of 2.59 and a beta of 1.90. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $76.51. The stock has a fifty day simple moving average of $55.48.

Etsy (NYSE:ETSYGet Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $881.64 million for the quarter. Etsy had a net margin of 9.94% and a negative return on equity of 28.60%. On average, analysts anticipate that Etsy Inc will post 3.71 EPS for the current fiscal year.

Key Headlines Impacting Etsy

Here are the key news stories impacting Etsy this week:

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in Etsy by 10.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after purchasing an additional 158 shares during the period. Alamea Verwaltungs GmbH boosted its stake in shares of Etsy by 2.3% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after acquiring an additional 169 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Etsy by 2.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock worth $419,000 after acquiring an additional 180 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Etsy by 6.6% during the 4th quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock worth $185,000 after acquiring an additional 205 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETSY. Stifel Nicolaus dropped their price objective on shares of Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Wells Fargo & Company boosted their target price on shares of Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Guggenheim boosted their target price on shares of Etsy from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. B. Riley Financial downgraded shares of Etsy from a “buy” rating to a “neutral” rating and boosted their target price for the company from $70.00 to $75.00 in a research report on Thursday, April 30th. Finally, BTIG Research boosted their target price on shares of Etsy from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.09.

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About Etsy

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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.

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Insider Buying and Selling by Quarter for Etsy (NYSE:ETSY)

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