Insider Selling: Etsy (NYSE:ETSY) Director Sells 300 Shares of Stock

Etsy Inc (NYSE:ETSY) Director Marla Blow sold 300 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $58.25, for a total value of $17,475.00. Following the completion of the transaction, the director directly owned 8,591 shares of the company’s stock, valued at approximately $500,425.75. This trade represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Down 2.2%

Shares of NYSE ETSY traded down $1.32 during trading on Tuesday, reaching $57.52. The company had a trading volume of 3,241,897 shares, compared to its average volume of 3,462,089. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $76.51. The stock has a market capitalization of $5.46 billion, a PE ratio of 23.96, a PEG ratio of 5.18 and a beta of 1.89. The business’s 50-day simple moving average is $56.74.

Etsy (NYSE:ETSY) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%.The company had revenue of $881.64 million during the quarter. Equities research analysts expect that Etsy Inc will post 3.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on ETSY. Jefferies Financial Group decreased their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. Truist Financial boosted their price target on Etsy from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Evercore set a $72.00 price target on Etsy in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus cut their price target on Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and an average target price of $70.09.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently bought and sold shares of ETSY. Integrated Wealth Concepts LLC raised its position in shares of Etsy by 19.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after buying an additional 961 shares during the period. Empowered Funds LLC raised its position in shares of Etsy by 55.5% in the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after buying an additional 3,451 shares during the period. Woodline Partners LP purchased a new position in shares of Etsy in the 1st quarter worth $2,181,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Etsy by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after buying an additional 906 shares during the period. Finally, M&T Bank Corp purchased a new position in shares of Etsy in the 2nd quarter worth $232,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

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.