Etsy, Inc. (NASDAQ:ETSY) Insider Nicholas Daniel Sells 750 Shares

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Friday, November 1st. The stock was sold at an average price of $52.50, for a total transaction of $39,375.00. Following the transaction, the insider now directly owns 24,371 shares of the company’s stock, valued at $1,279,477.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, October 1st, Nicholas Daniel sold 750 shares of Etsy stock. The stock was sold at an average price of $53.15, for a total value of $39,862.50.
• On Tuesday, September 3rd, Nicholas Daniel sold 750 shares of Etsy stock. The shares were sold at an average price of $55.40, for a total value of $41,550.00.

Etsy Stock Up 0.9 %

Etsy stock opened at $52.73 on Wednesday. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58. The company’s 50 day moving average price is $52.54 and its two-hundred day moving average price is $57.91. The stock has a market cap of $6.05 billion, a P/E ratio of 26.90, a P/E/G ratio of 6.19 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Etsy, Inc. will post 2.27 EPS for the current year.

Etsy announced that its board has initiated a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Etsy

Several hedge funds have recently added to or reduced their stakes in the stock. ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Etsy by 7.8% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 151,760 shares of the specialty retailer’s stock worth $8,427,000 after purchasing an additional 11,000 shares during the period. Victory Capital Management Inc. increased its position in Etsy by 422.1% in the third quarter. Victory Capital Management Inc. now owns 101,099 shares of the specialty retailer’s stock worth $5,614,000 after buying an additional 81,734 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Etsy in the third quarter valued at $225,000. Meritage Portfolio Management lifted its position in shares of Etsy by 152.4% during the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock valued at $14,698,000 after buying an additional 159,820 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Etsy by 9.0% during the 3rd quarter. Assetmark Inc. now owns 24,411 shares of the specialty retailer’s stock worth $1,356,000 after acquiring an additional 2,025 shares during the period. Institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ETSY. Wedbush lowered their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Truist Financial lowered their price objective on shares of Etsy from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus cut their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Raymond James decreased their price target on shares of Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Etsy in a report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.87.

About Etsy

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.