Etsy (NYSE:ETSY) Stock: Insider Frederick Wilson Sells 28,527 Shares

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 28,527 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $91.39, for a total transaction of $2,607,082.53. Following the sale, the director directly owned 400,000 shares of the company’s stock, valued at approximately $36,556,000. This trade represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Etsy Stock Performance

Shares of ETSY traded up $3.56 during midday trading on Monday, hitting $92.52. 5,002,797 shares of the company traded hands, compared to its average volume of 3,275,243. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 2.07 and a beta of 1.75. The firm has a 50 day moving average of $78.74 and a 200-day moving average of $68.21. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $95.49.

Etsy (NYSE:ETSY) last posted its earnings results on Wednesday, October 28th. The company reported $7.31 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $6.55. Etsy had a negative return on equity of 43.65% and a net margin of 34.36%. The company had revenue of $692.47 million for the quarter, compared to the consensus estimate of $669.04 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts predict that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in shares of Etsy in the 2nd quarter worth about $34,000. EFG International AG bought a new position in Etsy during the 2nd quarter valued at about $45,000. Signaturefd LLC grew its holdings in Etsy by 61.8% during the 3rd quarter. Signaturefd LLC now owns 762 shares of the company’s stock valued at $54,000 after purchasing an additional 291 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Etsy by 2,379.1% during the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock valued at $80,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Etsy in the 2nd quarter worth about $105,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETSY has been the topic of several research reports. Needham & Company LLC boosted their price target on shares of Etsy from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler increased their price objective on shares of Etsy from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Etsy from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday. Truist Financial upped their target price on shares of Etsy from $90.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.07.

About Etsy

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.