Etsy (NYSE:ETSY) Insider Sells 4,472 Shares of Company Stock

Key Points

• Etsy insider Richard Edward Colburn III sold 4,472 shares for approximately $318,898 at an average price of $71.31 under a pre-arranged Rule 10b5-1 plan, reducing his position by 40.75% to 6,503 shares.
• Etsy shares traded near $71.58, while the company reported quarterly revenue of $668.31 million—above estimates—but missed earnings expectations and saw revenue decline 0.7% year over year.
• Analysts maintain a consensus “Hold” rating with an $86.21 price target, despite several firms issuing “Buy” ratings and targets ranging from $89 to $95.

Etsy Inc (NYSE:ETSY - Get Free Report) insider Richard Edward Colburn III sold 4,472 shares of Etsy stock in a transaction on Monday, October 5th. The shares were sold at an average price of $71.31, for a total value of $318,898.32. Following the transaction, the insider owned 6,503 shares of the company's stock, valued at $463,728.93. The trade was a 40.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Richard Edward Colburn III also recently made the following trade(s):

• On Thursday, September 3rd, Richard Edward Colburn III sold 2,913 shares of Etsy stock. The shares were sold at an average price of $82.11, for a total value of $239,186.43.
• On Monday, August 10th, Richard Edward Colburn III sold 8,252 shares of Etsy stock. The stock was sold at an average price of $82.09, for a total value of $677,406.68.

Etsy Price Performance

Etsy stock traded up $0.19 during mid-day trading on Wednesday, reaching $71.58. The stock had a trading volume of 2,349,079 shares, compared to its average volume of 3,243,019. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 39.99, a PEG ratio of 1.77 and a beta of 1.86. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The company has a 50-day moving average price of $77.74 and a two-hundred day moving average price of $70.46.

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

Analysts Set New Price Targets

A number of research firms have commented on ETSY. The Goldman Sachs Group initiated coverage on Etsy in a report on Monday, August 17th. They issued a "neutral" rating and a $89.00 target price for the company. Weiss Ratings downgraded Etsy from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. President Capital raised Etsy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $57.00 to $91.00 in a research report on Thursday, June 25th. Bank of America upgraded Etsy from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $88.00 to $95.00 in a report on Thursday, August 20th. Finally, Rosenblatt Securities assumed coverage on Etsy in a research report on Thursday, August 20th. They issued a "buy" rating and a $95.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $86.21.

Institutional Investors Weigh In On Etsy

A number of large investors have recently made changes to their positions in ETSY. Global Retirement Partners LLC purchased a new position in shares of Etsy in the second quarter worth approximately $34,000. EFG International AG purchased a new stake in Etsy during the second quarter valued at approximately $45,000. Blue Trust Inc. raised its position in Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock worth $62,000 after acquiring an additional 200 shares during the period. CoreCap Advisors LLC raised its position in Etsy by 2,379.1% in the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company's stock worth $80,000 after acquiring an additional 1,023 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in shares of Etsy during the 2nd quarter worth $105,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Company Profile

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.

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