Etsy, Inc. (NASDAQ:ETSY) Insider Goyal Kruti Patel Sells 11,944 Shares

Key Points

• Etsy insider Goyal Kruti Patel sold 11,944 shares at an average price of $59.31, which is a 20.08% decrease in their ownership, leaving them with 47,529 shares valued at approximately $2.82 million.
• Etsy reported quarterly earnings of $0.25 EPS, missing analyst expectations of $0.54, although revenue increased by 3.8% year-over-year to $672.66 million.
• Analysts have set a range of price targets for Etsy, with updates showing a range from $48 to $71, and a consensus rating of "Hold".

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) insider Goyal Kruti Patel sold 11,944 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $59.31, for a total transaction of $708,398.64. Following the sale, the insider owned 47,529 shares in the company, valued at $2,818,944.99. This trade represents a 20.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Etsy Stock Performance

Shares of ETSY stock traded up $1.82 during mid-day trading on Wednesday, reaching $68.31. The company's stock had a trading volume of 875,411 shares, compared to its average volume of 4,824,668. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $68.45. The company has a market cap of $6.77 billion, a P/E ratio of 54.70, a PEG ratio of 3.92 and a beta of 1.73. The firm's 50-day moving average is $57.77 and its two-hundred day moving average is $51.79.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%. The firm had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. During the same period in the previous year, the company posted $0.41 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ETSY shares. Loop Capital cut their price target on shares of Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group set a $76.00 price target on shares of Etsy in a report on Wednesday, July 30th. UBS Group reaffirmed a "neutral" rating and set a $67.00 price objective on shares of Etsy in a research report on Thursday, July 31st. Stifel Nicolaus boosted their price objective on shares of Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Finally, Needham & Company LLC boosted their price objective on shares of Etsy from $55.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $57.20.

Institutional Investors Weigh In On Etsy

Hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors grew its holdings in Etsy by 476.5% during the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 405 shares during the last quarter. True Wealth Design LLC grew its holdings in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 292 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock valued at $28,000 after purchasing an additional 192 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Etsy in the 4th quarter valued at about $34,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Etsy in the 2nd quarter valued at about $35,000. Institutional investors own 99.53% of the company's stock.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.