Merilee Buckley Sells 11,827 Shares of Etsy (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) CAO Merilee Buckley sold 11,827 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $61.47, for a total value of $727,005.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Etsy Trading Down 4.3%

ETSY traded down $2.62 on Tuesday, hitting $58.46. The company had a trading volume of 3,949,492 shares, compared to its average volume of 5,081,328. The company’s fifty day moving average price is $64.47 and its 200 day moving average price is $58.21. The firm has a market cap of $5.77 billion, a P/E ratio of 47.15, a PEG ratio of 10.65 and a beta of 1.85. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $76.51.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. On average, analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Heritage Wealth Advisors raised its holdings in Etsy by 476.5% during the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after buying an additional 405 shares during the period. Signaturefd LLC grew its stake in Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 192 shares during the last quarter. Allworth Financial LP grew its stake in Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 248 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Etsy in the second quarter valued at approximately $35,000. Finally, SVB Wealth LLC acquired a new position in Etsy during the first quarter worth $36,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ETSY has been the topic of several research analyst reports. Barclays raised their price objective on Etsy from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $78.00 price objective (down previously from $80.00) on shares of Etsy in a research note on Thursday, October 30th. Jefferies Financial Group upped their price target on Etsy from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Guggenheim restated a “buy” rating and set a $70.00 price target on shares of Etsy in a research report on Thursday, September 18th. Finally, Citizens Jmp upgraded Etsy to a “hold” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $64.24.

Etsy Company Profile

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.