Marla Blow Sells 300 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) Director Marla Blow sold 300 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $79.56, for a total value of $23,868.00. Following the transaction, the director directly owned 13,024 shares of the company’s stock, valued at approximately $1,036,189.44. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

NYSE:ETSY opened at $81.30 on Friday. The company has a market capitalization of $7.72 billion, a P/E ratio of 45.42, a P/E/G ratio of 5.51 and a beta of 1.84. The business has a fifty day simple moving average of $79.54 and a two-hundred day simple moving average of $65.08. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97.

Etsy (NYSE:ETSY) last issued its quarterly 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 firm had revenue of $668.31 million for the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. As a group, analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ETSY shares. Wells Fargo & Company increased their target price on shares of Etsy from $61.00 to $76.00 and gave the stock an “underweight” rating in a research report on Friday, August 7th. UBS Group boosted their price target on shares of Etsy from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Raymond James Financial upped their price target on shares of Etsy from $75.00 to $92.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. President Capital raised shares of Etsy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $57.00 to $91.00 in a report on Thursday, June 25th. Finally, Guggenheim lifted their price objective on shares of Etsy from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $84.68.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. EFG International AG bought a new position in Etsy in the 4th quarter valued at $33,000. Global Retirement Partners LLC bought a new position in shares of Etsy in the second quarter worth $34,000. Blue Trust Inc. raised its position in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after buying an additional 200 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Etsy in the third quarter worth $66,000. Finally, Federation des caisses Desjardins du Quebec boosted its stake in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Bank of America upgraded Etsy from Neutral to Buy and raised its price target from $88 to $95. The firm said Etsy’s recent growth appears increasingly structural rather than a temporary spike, while viewing management’s strategy execution as better than expected and estimates as conservative. BofA also identified potential support from future share repurchases. Etsy upgraded to buy at BofA on durable growth, buyback potential
• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $95 price target, implying additional upside. The brokerage favored Etsy among the e-commerce companies it reviewed, pointing to improving execution despite slower underlying market growth. Rosenblatt sees further upside for eBay, Etsy, and Wayfair
• Neutral Sentiment: Goldman Sachs began research coverage of Etsy, adding another major investment bank to the stock’s analyst base, although no rating or price target was provided in the report. Etsy research coverage started at Goldman Sachs
• Negative Sentiment: Two insiders disclosed sales made under pre-arranged Rule 10b5-1 plans. Director Marla Blow sold 300 shares, while Chief Accounting Officer Merilee Buckley sold 405 shares. The transactions are modest in dollar value, but Buckley’s sale substantially reduced her remaining direct holdings and may create a minor sentiment overhang. Etsy insider stock sales

Etsy Company Profile

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.