Richard Edward Colburn III Sells 2,350 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) CTO Richard Edward Colburn III sold 2,350 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the sale, the chief technology officer now directly owns 2,896 shares in the company, valued at $136,140.96. This represents a 44.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Etsy Stock Up 0.0%

ETSY opened at $47.02 on Monday. The firm has a market capitalization of $4.90 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.57 and a beta of 1.78. The firm’s 50 day moving average is $45.37 and its 200-day moving average is $50.90. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.93.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. Equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ETSY has been the topic of several research analyst reports. B. Riley decreased their target price on shares of Etsy from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Bank of America decreased their target price on shares of Etsy from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Loop Capital reduced their price target on shares of Etsy from $40.00 to $37.00 and set a “sell” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their price target on shares of Etsy from $35.00 to $31.00 and set a “sell” rating on the stock in a research report on Thursday, May 1st. Finally, Barclays reduced their price target on shares of Etsy from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.14.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC increased its stake in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after buying an additional 181 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Etsy by 8.7% in the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock worth $144,000 after buying an additional 218 shares during the last quarter. Allworth Financial LP increased its stake in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after buying an additional 248 shares during the last quarter. Heron Bay Capital Management increased its stake in shares of Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock worth $1,072,000 after buying an additional 258 shares during the last quarter. Finally, Denver PWM LLC increased its stake in shares of Etsy by 36.1% in the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after buying an additional 289 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

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.