Insider Selling: Etsy (NYSE:ETSY) CAO Sells 1,993 Shares of Stock

Key Points

• Merilee Buckley, Etsy’s Chief Accounting Officer, sold 1,993 shares on April 6 at an average price of $52.92 for a total of $105,469.56, cutting her stake by 71.13% to 809 shares; the sale was executed under a pre‑arranged Rule 10b5-1 trading plan.
• The company’s Board approved a $750 million share buyback in December, authorizing repurchases of up to 14.2% of outstanding shares, which typically signals management views the stock as undervalued.
• Analysts hold a consensus rating of "Hold" on ETSY with an average target price of $60.80, while recent results showed EPS of $0.92 (vs. $0.88 est.) and revenue of $881.6M, amid a P/E near 41.3.

Etsy Inc (NYSE:ETSY - Get Free Report) CAO Merilee Buckley sold 1,993 shares of Etsy stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $52.92, for a total value of $105,469.56. Following the completion of the transaction, the chief accounting officer owned 809 shares of the company's stock, valued at $42,812.28. This trade represents a 71.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Up 0.2%

NYSE:ETSY traded up $0.12 during mid-day trading on Wednesday, reaching $54.06. The stock had a trading volume of 2,859,518 shares, compared to its average volume of 3,581,588. The stock has a market cap of $5.20 billion, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 3.30 and a beta of 1.77. Etsy Inc has a 1-year low of $40.05 and a 1-year high of $76.51. The business has a 50 day simple moving average of $52.15.

Etsy (NYSE:ETSY - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.The business had revenue of $881.64 million during the quarter.

Etsy declared that its Board of Directors has approved a share buyback plan on Thursday, December 18th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to purchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have commented on ETSY. Needham & Company LLC decreased their target price on Etsy from $76.00 to $65.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Morgan Stanley decreased their target price on Etsy from $65.00 to $60.00 and set an "equal weight" rating for the company in a research note on Friday, February 20th. JPMorgan Chase & Co. decreased their target price on Etsy from $65.00 to $58.00 and set a "neutral" rating for the company in a research note on Friday, February 20th. Canaccord Genuity Group decreased their target price on Etsy from $80.00 to $72.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Finally, Jefferies Financial Group decreased their target price on Etsy from $62.00 to $55.00 and set a "hold" rating for the company in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $60.80.

Institutional Investors Weigh In On Etsy

Hedge funds have recently made changes to their positions in the business. EFG International AG bought a new stake in shares of Etsy during the fourth quarter valued at approximately $33,000. SJS Investment Consulting Inc. raised its holdings in shares of Etsy by 12,600.0% during the third quarter. SJS Investment Consulting Inc. now owns 762 shares of the company's stock valued at $51,000 after buying an additional 756 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Etsy during the third quarter valued at approximately $51,000. Salomon & Ludwin LLC bought a new stake in shares of Etsy during the third quarter valued at approximately $55,000. Finally, Danske Bank A S bought a new stake in shares of Etsy during the third quarter valued at approximately $66,000. Institutional investors own 99.53% of the company's stock.

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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