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

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 28,527 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $91.39, for a total value of $2,607,082.53. Following the completion of the sale, the director owned 400,000 shares in the company, valued at approximately $36,556,000. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Etsy Trading Up 4.0%

Shares of ETSY stock traded up $3.56 on Monday, reaching $92.52. 5,002,797 shares of the company’s stock were exchanged, compared to its average volume of 3,275,243. The company’s fifty day simple moving average is $78.74 and its 200 day simple moving average is $68.21. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $95.49. The stock has a market capitalization of $7.98 billion, a PE ratio of 10.92, a P/E/G ratio of 2.07 and a beta of 1.75.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $7.31 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $0.63 EPS. Etsy’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts predict that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in ETSY. Renaissance Technologies LLC increased its stake in shares of Etsy by 11.1% during the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after buying an additional 594,768 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after acquiring an additional 1,112,520 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Etsy by 48.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock worth $121,532,000 after acquiring an additional 523,092 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Etsy during the 2nd quarter valued at about $120,417,000. Finally, Dimensional Fund Advisors LP increased its position in Etsy by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company’s stock valued at $78,642,000 after purchasing an additional 100,542 shares during the period. Institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ETSY. Morgan Stanley upped their price target on shares of Etsy from $73.00 to $79.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore set a $83.00 price objective on shares of Etsy in a report on Thursday, August 6th. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Guggenheim boosted their price objective on shares of Etsy from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Oppenheimer upgraded shares of Etsy from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $94.07.

Etsy Company Profile

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.