Etsy (NYSE:ETSY) CAO Sells 5,076 Shares of Stock

Key Points

• Etsy’s chief accounting officer Merilee Buckley sold 5,076 shares at an average price of $90, worth $456,840, cutting her holdings by 50%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Etsy shares recently traded at $85.10, near their 52-week high of $90.32, with an $8.08 billion market capitalization. The stock’s consensus analyst rating is “Hold”, with an average price target of $86.21.
• The company’s latest quarterly results missed earnings expectations, reporting a $0.49 loss per share versus the $0.75 consensus estimate, while revenue of $668.31 million exceeded forecasts. Revenue declined 0.7% year over year.

Etsy Inc (NYSE:ETSY - Get Free Report) CAO Merilee Buckley sold 5,076 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $90.00, for a total value of $456,840.00. Following the sale, the chief accounting officer owned 5,076 shares in the company, valued at approximately $456,840. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Merilee Buckley also recently made the following trade(s):

• On Monday, October 5th, Merilee Buckley sold 1,396 shares of Etsy stock. The shares were sold at an average price of $71.35, for a total value of $99,604.60.
• On Monday, August 17th, Merilee Buckley sold 405 shares of Etsy stock. The shares were sold at an average price of $79.50, for a total transaction of $32,197.50.

Etsy Price Performance

ETSY stock traded down $0.04 during trading hours on Monday, reaching $85.10. The stock had a trading volume of 2,760,825 shares, compared to its average volume of 3,254,668. The stock has a market capitalization of $8.08 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 2.13 and a beta of 1.86. The stock has a 50-day simple moving average of $77.01 and a 200 day simple moving average of $72.12. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $90.32.

Etsy (NYSE:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%. The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, sell-side analysts forecast that Etsy Inc will post 3.94 EPS for the current fiscal year.

Institutional Trading of Etsy

Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in Etsy during the 2nd quarter worth $34,000. EFG International AG bought a new stake in shares of Etsy in the second quarter valued at about $45,000. CoreCap Advisors LLC boosted its position in shares of Etsy by 2,379.1% in the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company's stock valued at $80,000 after acquiring an additional 1,023 shares during the period. Blue Trust Inc. grew its stake in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after acquiring an additional 200 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Etsy in the second quarter valued at about $105,000. 99.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Arete Research set a $81.00 target price on Etsy and gave the stock a "neutral" rating in a research note on Thursday, September 24th. President Capital raised Etsy from a "neutral" rating to a "buy" rating and raised their price target for the company from $57.00 to $91.00 in a report on Thursday, June 25th. Piper Sandler lifted their price objective on shares of Etsy from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Jefferies Financial Group upped their price objective on shares of Etsy from $62.00 to $80.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Finally, UBS Group upped their price objective on shares of Etsy from $74.00 to $86.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Etsy currently has a consensus rating of "Hold" and a consensus target price of $86.21.

Etsy Company Profile

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.

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