Etsy (NYSE:ETSY) Insider Richard Edward Colburn III Sells 2,913 Shares

Etsy Inc (NYSE:ETSY) insider Richard Edward Colburn III sold 2,913 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $82.11, for a total transaction of $239,186.43. Following the sale, the insider directly owned 6,503 shares of the company’s stock, valued at $533,961.33. This represents a 30.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 shares were sold at an average price of $82.09, for a total value of $677,406.68.

Etsy Stock Up 0.2%

Shares of ETSY stock opened at $81.88 on Friday. The company’s fifty day simple moving average is $81.31 and its 200-day simple moving average is $67.25. The firm has a market cap of $7.77 billion, a PE ratio of 45.74, a P/E/G ratio of 2.04 and a beta of 1.81. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.97.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $646.10 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Etsy’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts predict that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Trending Headlines about 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 Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ETSY. Headlands Technologies LLC bought a new position in Etsy in the 2nd quarter valued at approximately $1,045,000. Ieq Capital LLC acquired a new stake in Etsy during the 2nd quarter worth approximately $4,083,000. Landscape Capital Management L.L.C. bought a new stake in Etsy during the 2nd quarter worth approximately $6,466,000. Bank of Nova Scotia bought a new stake in Etsy during the 2nd quarter worth approximately $18,602,000. Finally, Janus Henderson Group PLC increased its position in Etsy by 627.2% in the 1st quarter. Janus Henderson Group PLC now owns 279,407 shares of the company’s stock valued at $13,962,000 after acquiring an additional 240,986 shares during the period. 99.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ETSY has been the topic of several recent research reports. The Goldman Sachs Group assumed coverage on shares of Etsy in a report on Monday, August 17th. They set a “neutral” rating and a $89.00 target price on the stock. Piper Sandler lifted their price objective on Etsy from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Thursday, May 21st. Rosenblatt Securities initiated coverage on Etsy in a research report on Thursday, August 20th. They set a “buy” rating and a $95.00 target price for the company. Finally, JPMorgan Chase & Co. raised Etsy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $100.00 in a report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Etsy has an average rating of “Moderate Buy” and a consensus price target of $84.68.

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.