Etsy (NYSE:ETSY) Stock: Insider Charles Baker Sells 1,407 Shares

Etsy Inc (NYSE:ETSY) CFO Charles Baker sold 1,407 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $91.42, for a total value of $128,627.94. Following the completion of the transaction, the chief financial officer directly owned 15,958 shares in the company, valued at $1,458,880.36. The trade was a 8.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

Shares of ETSY opened at $90.08 on Friday. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 1.96 and a beta of 1.76. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $97.85. The business has a 50-day moving average of $79.61 and a 200-day moving average of $68.98.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $7.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $6.55. The business had revenue of $692.47 million for the quarter, compared to analysts’ expectations of $669.04 million. Etsy had a negative return on equity of 43.65% and a net margin of 34.36%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. As a group, sell-side analysts anticipate that Etsy Inc will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of recent research reports. Loop Capital set a $105.00 price objective on Etsy in a research report on Thursday, August 20th. Needham & Company LLC lifted their price objective on shares of Etsy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Evercore set a $83.00 price objective on Etsy in a report on Thursday, August 6th. Cantor Fitzgerald raised their price objective on shares of Etsy from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, BTIG Research boosted their price target on Etsy from $90.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $94.07.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC acquired a new position in Etsy during the 2nd quarter worth approximately $120,417,000. Arrowstreet Capital Limited Partnership boosted its position in Etsy by 51.4% during the 1st 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. Findlay Park Partners LLP bought a new stake in Etsy during the second quarter valued at about $66,170,000. Renaissance Technologies LLC grew its position in Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after acquiring an additional 594,768 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Etsy during the 2nd quarter worth approximately $42,781,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

About Etsy

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.