Insider Selling: Etsy (NYSE:ETSY) Director Sells $368,325.00 in Stock

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

Etsy Price Performance

Etsy stock opened at $83.79 on Monday. The firm has a 50 day simple moving average of $80.83 and a 200-day simple moving average of $66.31. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 46.81, a price-to-earnings-growth 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 quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Equities analysts expect that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in Etsy by 7,217.3% during the 2nd quarter. California State Teachers Retirement System now owns 7,561,851 shares of the company’s stock worth $569,634,000 after buying an additional 7,458,509 shares during the period. Renaissance Technologies LLC boosted its position in Etsy by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after buying an additional 594,768 shares during the period. AQR Capital Management LLC grew its stake in shares of Etsy by 40.1% in the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after acquiring an additional 1,177,301 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Etsy by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after acquiring an additional 39,067 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after acquiring an additional 1,112,520 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ETSY shares. UBS Group increased their price target on Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Royal Bank Of Canada cut shares of Etsy to a “sector perform” rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. raised shares of Etsy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $100.00 in a research note on Friday, August 7th. Truist Financial boosted their price target on shares of Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Argus upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Thursday, May 21st. Two equities research 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, Etsy presently has a consensus rating of “Hold” and an average price target of $84.68.

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.