Etsy (NASDAQ:ETSY) Director Marla Blow Sells 450 Shares of Stock

Key Points

• Marla Blow, a director at Etsy, sold 450 shares of the company at an average price of $67.46, leading to a 4.53% decrease in her ownership.
• Etsy's recent quarterly earnings reported an EPS of $0.25, which missed analysts' expectations of $0.54, though revenue climbed to $672.66 million.
• Analysts have varied price targets for Etsy, with Needham & Company increasing their target to $72.00, while B. Riley reduced theirs to $55.00, indicating a mixed outlook for the stock.

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) Director Marla Blow sold 450 shares of Etsy stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $67.46, for a total transaction of $30,357.00. Following the transaction, the director owned 9,491 shares of the company's stock, valued at $640,262.86. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Etsy Stock Performance

Shares of Etsy stock traded down $1.47 during mid-day trading on Tuesday, hitting $63.49. 3,362,107 shares of the stock were exchanged, compared to its average volume of 4,851,732. The company has a 50-day simple moving average of $58.12 and a 200 day simple moving average of $52.11. The company has a market capitalization of $6.29 billion, a P/E ratio of 51.20, a P/E/G ratio of 4.22 and a beta of 1.73. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). The company had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors lifted its stake in Etsy by 476.5% in the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 405 shares during the last quarter. True Wealth Design LLC lifted its holdings in Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after buying an additional 292 shares during the period. Signaturefd LLC boosted its position in Etsy by 52.7% during the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock valued at $28,000 after purchasing an additional 192 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Etsy in the 2nd quarter valued at about $35,000. Finally, SVB Wealth LLC purchased a new position in Etsy in the first quarter worth $36,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Analysts Set New Price Targets

ETSY has been the topic of several recent analyst reports. Needham & Company LLC raised their price target on Etsy from $55.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, July 31st. B. Riley cut their target price on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Bank of America raised their price target on Etsy from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Morgan Stanley raised their target price on shares of Etsy from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Etsy from $50.00 to $53.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Etsy currently has an average rating of "Hold" and an average target price of $57.20.

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.

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