Etsy, Inc. (NASDAQ:ETSY – Get Rating) was down 3.1% on Monday after an insider sold shares in the company. The stock traded as low as $88.32 and last traded at $88.39. Approximately 1,248,650 shares changed hands during trading, a decline of 62% from the average daily volume of 3,308,486 shares. The stock had previously closed at $91.24.Specifically, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $106.38, for a total value of $2,218,023.00. Following the transaction, the chief executive officer now directly owns 107,305 shares in the company, valued at approximately $11,415,105.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Etsy news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $106.38, for a total value of $2,218,023.00. Following the transaction, the chief executive officer now directly owns 107,305 shares in the company, valued at approximately $11,415,105.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Ryan M. Scott sold 6,146 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $107.44, for a total value of $660,326.24. Following the completion of the transaction, the chief marketing officer now owns 4,854 shares in the company, valued at $521,513.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,396 shares of company stock worth $10,979,929. 2.60% of the stock is owned by company insiders.
Analyst Ratings Changes
ETSY has been the subject of a number of research reports. Morgan Stanley cut their price objective on Etsy from $79.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, May 16th. Bank of America increased their target price on Etsy from $145.00 to $153.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. BTIG Research dropped their target price on Etsy from $144.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Loop Capital lowered their price target on Etsy from $125.00 to $105.00 in a research report on Thursday, May 4th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Etsy in a research report on Thursday, February 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $126.22.
Etsy Stock Performance
The stock has a 50-day moving average of $95.29 and a two-hundred day moving average of $114.74.
Etsy (NASDAQ:ETSY – Get Rating) last issued its earnings results on Wednesday, May 3rd. The specialty retailer reported $0.53 EPS for the quarter, beating the consensus estimate of $0.48 by $0.05. Etsy had a negative return on equity of 118.74% and a negative net margin of 26.86%. The business had revenue of $640.90 million for the quarter, compared to the consensus estimate of $620.92 million. During the same period last year, the business posted $0.60 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts forecast that Etsy, Inc. will post 2.35 earnings per share for the current year.
Institutional Trading of Etsy
Institutional investors have recently added to or reduced their stakes in the business. OLD Mission Capital LLC purchased a new position in shares of Etsy in the 4th quarter worth $25,000. Valley National Advisers Inc. boosted its stake in shares of Etsy by 129.5% in the 1st quarter. Valley National Advisers Inc. now owns 257 shares of the specialty retailer’s stock worth $26,000 after buying an additional 145 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Etsy by 184.1% in the 1st quarter. Spire Wealth Management now owns 233 shares of the specialty retailer’s stock worth $26,000 after buying an additional 151 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of Etsy in the 4th quarter worth $28,000. Finally, ICA Group Wealth Management LLC purchased a new position in Etsy during the fourth quarter valued at $28,000. 95.46% of the stock is currently owned by hedge funds and other institutional investors.
Etsy Company Profile
Etsy, Inc engages in the operation of an online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments: Etsy, Reverb, Depop, and Elo7. The company was founded in 2005 and is headquartered in New York, NY.