Etsy, Inc. (NASDAQ:ETSY) Director M Michele Burns sold 8,150 shares of the business's stock in a transaction that occurred on Thursday, November 19th. The stock was sold at an average price of $133.56, for a total value of $1,088,514.00. Following the completion of the transaction, the director now directly owns 18,571 shares in the company, valued at $2,480,342.76. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of ETSY stock traded up $0.14 on Monday, hitting $140.20. The stock had a trading volume of 2,592,244 shares, compared to its average volume of 3,849,989. Etsy, Inc. has a twelve month low of $29.95 and a twelve month high of $154.88. The firm has a market cap of $17.66 billion, a P/E ratio of 77.89, a PEG ratio of 2.02 and a beta of 1.61. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.65. The company has a fifty day moving average price of $136.53 and a two-hundred day moving average price of $112.05.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, October 28th. The specialty retailer reported $0.70 EPS for the quarter, topping the Zacks' consensus estimate of $0.62 by $0.08. Etsy had a net margin of 16.83% and a return on equity of 46.30%. The company had revenue of $451.48 million during the quarter, compared to the consensus estimate of $418.72 million. On average, analysts expect that Etsy, Inc. will post 2.31 earnings per share for the current year.
ETSY has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Etsy from $68.00 to $74.00 and gave the stock an "underweight" rating in a report on Thursday, October 29th. DA Davidson boosted their target price on Etsy from $90.00 to $160.00 in a report on Monday, August 10th. Oppenheimer boosted their target price on Etsy from $150.00 to $160.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Etsy from $156.00 to $159.00 and gave the stock a "buy" rating in a report on Tuesday, October 27th. Finally, Royal Bank of Canada boosted their price objective on shares of Etsy from $164.00 to $169.00 and gave the stock an "outperform" rating in a research report on Thursday, October 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and an average target price of $140.45.
Several institutional investors have recently bought and sold shares of ETSY. DekaBank Deutsche Girozentrale bought a new stake in shares of Etsy in the 3rd quarter valued at about $68,000. State of Michigan Retirement System raised its holdings in shares of Etsy by 31.4% in the 2nd quarter. State of Michigan Retirement System now owns 43,238 shares of the specialty retailer's stock valued at $4,593,000 after purchasing an additional 10,338 shares during the period. Toronto Dominion Bank bought a new stake in shares of Etsy in the 3rd quarter valued at about $4,413,000. Advisory Services Network LLC raised its holdings in shares of Etsy by 700.0% in the 2nd quarter. Advisory Services Network LLC now owns 5,792 shares of the specialty retailer's stock valued at $616,000 after purchasing an additional 5,068 shares during the period. Finally, Scout Investments Inc. bought a new stake in shares of Etsy in the 3rd quarter valued at about $3,769,000. Institutional investors own 91.78% of the company's stock.
Etsy, Inc operates online market places for buyers and sellers primarily in the United States, the United Kingdom, Canada, Australia, France, and Germany. Its online market places include Etsy.com and Reverb.com. The company offers approximately 66 million items in its various retail categories to buyers.
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7 Tech Stocks To Buy On Sale
This too shall pass. Those four words should be taped to the computer screen of every investor. If you own shares of the tech sector, you’ve seen your portfolio take quite a hit. Tech stocks were largely immune from the effects of the pandemic.
However, as investors are looking to rebalance their portfolios, tech stocks were obvious targets for some profit-taking. And at the end of the day, that’s what I believe the latest tech selloff amounts to. Stocks don’t move in one direction all the time. Sure, there may be some saber-rattling about breaking up big tech. But with an election in less than two months, nobody will have the political will to do anything.
That doesn’t mean that it’s all going to be smooth sailing. Sure, the Federal Reserve did its part by promising low-interest rates until the end of time (or at least through 2023 whatever comes first). But the rest of 2020 is likely to be volatile for stocks.
First, there’s still the novel coronavirus hanging around. It’s not going to simply disappear after election day. That will take some combination of a vaccine and/or therapeutic. And all the likely candidates seem to be getting farther away the deeper into clinical trials they get.
And we have an election. But we are not likely to know the winner of the election on election night. In fact, for those who remember the spectacle of “hanging chads”, this election could make that one look like amateur hour.
The bottom line is there will be uncertainty. But there are always gains to be found, particularly now that their stock price has come down a little bit. Here are seven tech stocks that you can look to add or increase a position in now that they’re trading at a discount.
View the "7 Tech Stocks To Buy On Sale".