Insider Selling: Etsy (NASDAQ:ETSY) Insider Sells 1,500 Shares of Stock

Key Points

• Nicholas Daniel, an insider at Etsy, sold 1,500 shares on September 2nd for a total of $77,430, which reduced his stake in the company by 4.52%. Following the sale, he retains approximately 31,683 shares valued at around $1.6 million.
• Etsy recently reported a quarterly EPS of $0.25, missing analysts' expectations of $0.54, but exceeded revenue forecasts with $672.66 million, marking a 3.8% increase year-over-year.
• Barclays and Bank of America are among analysts who have recently upgraded their price targets for Etsy, reflecting a mixed sentiment with a consensus rating of "Hold" and an average target price of $57.80.

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $51.62, for a total transaction of $77,430.00. Following the completion of the transaction, the insider directly owned 31,683 shares of the company's stock, valued at approximately $1,635,476.46. This represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nicholas Daniel also recently made the following trade(s):

• On Friday, August 1st, Nicholas Daniel sold 1,500 shares of Etsy stock. The shares were sold at an average price of $58.79, for a total transaction of $88,185.00.
• On Tuesday, July 1st, Nicholas Daniel sold 1,500 shares of Etsy stock. The shares were sold at an average price of $51.36, for a total transaction of $77,040.00.

Etsy Stock Performance

Etsy stock traded up $0.27 during trading on Wednesday, reaching $51.97. The company had a trading volume of 4,411,289 shares, compared to its average volume of 4,890,199. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $70.57. The stock's 50 day moving average price is $58.40 and its two-hundred day moving average price is $52.36. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 3.38 and a beta of 1.77.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Etsy's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

ETSY has been the subject of several research reports. Barclays reiterated a "positive" rating and set a $60.00 price objective (up from $52.00) on shares of Etsy in a research note on Thursday, July 31st. Sanford C. Bernstein boosted their target price on shares of Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Etsy from $40.00 to $47.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. UBS Group reissued a "neutral" rating and set a $67.00 target price on shares of Etsy in a research report on Thursday, July 31st. Finally, Bank of America boosted their target price on shares of Etsy from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Etsy presently has a consensus rating of "Hold" and an average target price of $57.80.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its holdings in shares of Etsy by 10.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the specialty retailer's stock worth $88,000 after purchasing an additional 158 shares during the period. Alamea Verwaltungs GmbH raised its holdings in shares of Etsy by 2.3% during the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the specialty retailer's stock worth $370,000 after purchasing an additional 169 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Etsy by 0.6% during the second quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the specialty retailer's stock worth $1,440,000 after acquiring an additional 172 shares during the last quarter. Blue Trust Inc. grew its position in shares of Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer's stock worth $58,000 after acquiring an additional 181 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Etsy by 52.7% during the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock worth $28,000 after acquiring an additional 192 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Company Profile

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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