Goyal Kruti Patel Sells 7,685 Shares of Etsy (NASDAQ:ETSY) Stock

Key Points

• Goyal Kruti Patel, an insider at Etsy, sold 7,685 shares of the company's stock on October 3, at an average price of $75.01, totaling approximately $576,451.85, resulting in a 12.29% decrease in their holdings.
• Etsy's recent earnings report showed $0.25 earnings per share (EPS), missing expectations of $0.54, while the company's revenue for the quarter was $672.66 million, which was above analysts' estimates.
• Research analysts have mixed ratings for Etsy stock, with a consensus rating of "Hold" and a target price averaging $58.69.

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) insider Goyal Kruti Patel sold 7,685 shares of the company's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $576,451.85. Following the completion of the sale, the insider owned 54,840 shares in the company, valued at $4,113,548.40. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Goyal Kruti Patel also recently made the following trade(s):

• On Thursday, August 7th, Goyal Kruti Patel sold 11,944 shares of Etsy stock. The shares were sold at an average price of $59.31, for a total value of $708,398.64.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded down $0.16 during midday trading on Friday, reaching $72.38. The company's stock had a trading volume of 7,494,817 shares, compared to its average volume of 5,168,095. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 58.37, a PEG ratio of 4.49 and a beta of 1.85. The firm has a 50 day moving average price of $60.87 and a two-hundred day moving average price of $54.12. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.52.

Etsy (NASDAQ:ETSY - Get Free Report) last announced 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 business had revenue of $672.66 million during the quarter, compared to analyst estimates of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ETSY has been the subject of a number of research analyst reports. Bank of America boosted their target price on Etsy from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Arete Research raised Etsy from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 7th. Canaccord Genuity Group set a $76.00 target price on Etsy in a research report on Wednesday, July 30th. BTIG Research boosted their price objective on Etsy from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Cantor Fitzgerald boosted their price objective on Etsy from $52.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Nine research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $58.69.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently modified their holdings of the business. Holocene Advisors LP grew its holdings in shares of Etsy by 697.4% in the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer's stock valued at $268,045,000 after acquiring an additional 4,673,615 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Etsy by 423.7% in the first quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock valued at $218,890,000 after acquiring an additional 3,768,787 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Etsy by 62.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer's stock valued at $185,197,000 after acquiring an additional 1,416,772 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Etsy by 112.8% in the first quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock valued at $132,273,000 after acquiring an additional 1,486,142 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Etsy by 36.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock valued at $95,599,000 after acquiring an additional 535,864 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

About Etsy

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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