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

by · The Cerbat Gem

Etsy Inc (NYSE:ETSY – Get Free Report) Director Charles Andrew Ballard sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were 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 of the company’s stock, valued at $346,962.15. The trade was a 51.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Etsy Trading Up 1.0%

ETSY stock traded up $0.85 on Friday, hitting $83.79. The company had a trading volume of 1,545,204 shares, compared to its average volume of 3,252,039. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.97. The stock’s 50-day simple moving average is $80.64 and its 200 day simple moving average is $66.10. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 46.81, a P/E/G ratio of 3.95 and a beta of 1.84.

Etsy (NYSE:ETSY – Get Free Report) last posted its 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 company had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. Research analysts forecast that Etsy Inc will post 3.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ETSY shares. Sanford C. Bernstein raised Etsy from a “hold” rating to an “outperform” rating in a research report on Thursday, August 20th. Loop Capital set a $105.00 price target on shares of Etsy in a research report on Thursday, August 20th. BTIG Research downgraded shares of Etsy from a “buy” rating to a “neutral” rating in a report on Thursday, July 16th. Barclays upped their target price on shares of Etsy from $82.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Truist Financial lifted their price target on shares of Etsy from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.68.

View Our Latest Report on Etsy

Hedge Funds Weigh In On Etsy

Several large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Etsy in the second quarter worth $34,000. EFG International AG bought a new position in Etsy in the 2nd quarter worth $45,000. Danske Bank A S bought a new position in Etsy in the 3rd quarter worth $66,000. CoreCap Advisors LLC increased its stake in Etsy by 2,379.1% in the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock worth $80,000 after buying an additional 1,023 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its stake in Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

About Etsy

(Get Free Report)

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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