Insider Selling: Etsy (NYSE:ETSY) Insider Sells $239,186.43 in Stock

Key Points

• Etsy insider Richard Edward Colburn III sold 2,913 shares for approximately $239,186 under a pre-arranged Rule 10b5-1 plan to cover tax obligations from vested equity awards. He retained 6,503 shares after the transaction.
• Etsy shares traded near $81.88, with a $7.77 billion market capitalization, after the company reported quarterly revenue of $668.31 million but missed EPS expectations and posted a year-over-year revenue decline.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $84.68; Bank of America and Morgan Stanley recently upgraded the stock, while institutional investors own 99.53% of outstanding shares.

Etsy Inc (NYSE:ETSY - Get Free Report) insider Richard Edward Colburn III sold 2,913 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $82.11, for a total transaction of $239,186.43. Following the transaction, the insider directly owned 6,503 shares of the company's stock, valued at $533,961.33. The trade was a 30.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 transaction of $677,406.68.

Etsy Stock Performance

Shares of NYSE ETSY traded up $0.16 during midday trading on Thursday, hitting $81.88. 2,628,958 shares of the stock traded hands, compared to its average volume of 3,233,756. The firm has a market capitalization of $7.77 billion, a P/E ratio of 45.74, a PEG ratio of 2.04 and a beta of 1.81. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The firm has a 50-day moving average of $81.31 and a two-hundred day moving average of $67.25.

Etsy (NYSE:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) 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 the consensus estimate of $646.10 million. During the same period in the previous year, the firm earned $0.25 EPS. The business's revenue was down .7% on a year-over-year basis. Equities analysts forecast that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ETSY has been the topic of a number of research reports. Bank of America raised shares of Etsy from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $88.00 to $95.00 in a report on Thursday, August 20th. Zacks Research upgraded shares of Etsy from a "hold" rating to a "strong-buy" rating in a research report on Monday. Arete Research set a $76.00 price objective on Etsy and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Morgan Stanley raised Etsy from an "underweight" rating to an "outperform" rating in a report on Thursday, August 20th. Finally, Susquehanna downgraded Etsy to a "neutral" rating in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $84.68.

Key Headlines Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Zacks Research upgraded Etsy from “hold” to “strong-buy,” providing a positive technical and sentiment catalyst for the stock. Etsy investor conference announcement
• Positive Sentiment: Etsy will participate in the Goldman Sachs Communacopia and Technology Conference on September 9. Investors may look for updates on marketplace trends, growth initiatives and outlook during the webcast fireside chat, although no new financial guidance was provided. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Several executives and directors reported stock sales totaling roughly 36,280 shares. Josh Silverman sold 13,367 shares, director Frederick Wilson sold 20,000 shares, and Richard Edward Colburn III sold 2,913 shares. Silverman’s and Wilson’s transactions were executed under pre-arranged Rule 10b5-1 plans, while Colburn’s sale covered tax withholding tied to vested equity awards, reducing the likelihood that the trades signal deteriorating confidence. Etsy insider transaction filing
• Negative Sentiment: The insider transactions represent near-term selling pressure and may attract investor attention because they occurred around the $82–$84 range. However, the sellers retained substantial holdings, including Silverman’s approximately 249,559 shares and Wilson’s approximately 401,329 shares. Etsy director transaction filing

Institutional Trading of Etsy

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in shares of Etsy by 7,217.3% in the 2nd quarter. California State Teachers Retirement System now owns 7,561,851 shares of the company's stock valued at $569,634,000 after acquiring an additional 7,458,509 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Etsy during the second quarter worth approximately $120,417,000. SG Americas Securities LLC raised its position in Etsy by 717.7% during the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company's stock valued at $74,829,000 after purchasing an additional 1,314,071 shares during the period. AQR Capital Management LLC raised its position in Etsy by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company's stock valued at $227,785,000 after purchasing an additional 1,177,301 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company's stock valued at $163,841,000 after purchasing an additional 1,112,520 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Etsy Company Profile

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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