Charles Andrew Ballard Sells 4,500 Shares of Etsy (NYSE:ETSY) Stock

Key Points

• Etsy director Charles Andrew Ballard sold 4,500 shares at an average price of $81.85, generating $368,325 and reducing his position by 51.49% to 4,239 shares.
• Etsy shares recently traded at $83.79, near their 12-month high of $87.97, while the company reported quarterly revenue of $668.31 million but missed consensus earnings estimates.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $84.68; institutional investors own 99.53% of the stock.

Etsy Inc (NYSE:ETSY - Get Free Report) Director Charles Andrew Ballard sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $81.85, for a total value of $368,325.00. Following the transaction, the director owned 4,239 shares in the company, valued at $346,962.15. This trade represents a 51.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Etsy Stock Performance

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

Etsy (NYSE:ETSY - Get Free Report) last announced 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). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. During the same quarter last year, the firm posted $0.25 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. On average, analysts expect that Etsy Inc will post 3.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently made changes to their positions in the company. EFG International AG bought a new stake in shares of Etsy in the 4th quarter worth $33,000. Global Retirement Partners LLC bought a new position in shares of Etsy during the second quarter valued at $34,000. Blue Trust Inc. lifted its holdings in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Etsy during the third quarter valued at $66,000. Finally, Federation des caisses Desjardins du Quebec boosted its position in shares of Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock valued at $67,000 after buying an additional 225 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETSY. Guggenheim lifted their target price on shares of Etsy from $85.00 to $95.00 and gave the company a "buy" rating in a report on Friday, August 7th. The Goldman Sachs Group initiated coverage on Etsy in a research report on Monday, August 17th. They set a "neutral" rating and a $89.00 price objective for the company. Wall Street Zen cut Etsy from a "buy" rating to a "hold" rating in a research note on Sunday, May 31st. Loop Capital set a $105.00 target price on Etsy in a report on Thursday, August 20th. Finally, Arete Research set a $76.00 target price on Etsy and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Etsy currently has a consensus rating of "Hold" and an average price target of $84.68.

About Etsy

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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