Merilee Buckley Sells 405 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) CAO Merilee Buckley sold 405 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $79.50, for a total transaction of $32,197.50. Following the sale, the chief accounting officer directly owned 167 shares of the company’s stock, valued at approximately $13,276.50. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Merilee Buckley also recently made the following trade(s):

• On Monday, July 6th, Merilee Buckley sold 881 shares of Etsy stock. The stock was sold at an average price of $75.35, for a total transaction of $66,383.35.

Etsy Stock Performance

Shares of NYSE ETSY opened at $81.30 on Friday. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 45.42, a PEG ratio of 5.51 and a beta of 1.84. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97. The firm’s 50-day simple moving average is $79.54 and its 200 day simple moving average is $65.08.

Etsy (NYSE:ETSY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The company had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. On average, sell-side analysts predict that Etsy Inc will post 3.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in shares of Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after purchasing an additional 594,768 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after buying an additional 1,177,301 shares during the last quarter. Van ECK Associates Corp grew its position in Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after buying an additional 39,067 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after buying an additional 1,112,520 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Etsy by 48.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock worth $121,532,000 after buying an additional 523,092 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Bank of America upgraded Etsy from Neutral to Buy and raised its price target from $88 to $95. The firm said Etsy’s recent growth appears increasingly structural rather than a temporary spike, while viewing management’s strategy execution as better than expected and estimates as conservative. BofA also identified potential support from future share repurchases. Etsy upgraded to buy at BofA on durable growth, buyback potential
• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $95 price target, implying additional upside. The brokerage favored Etsy among the e-commerce companies it reviewed, pointing to improving execution despite slower underlying market growth. Rosenblatt sees further upside for eBay, Etsy, and Wayfair
• Neutral Sentiment: Goldman Sachs began research coverage of Etsy, adding another major investment bank to the stock’s analyst base, although no rating or price target was provided in the report. Etsy research coverage started at Goldman Sachs
• Negative Sentiment: Two insiders disclosed sales made under pre-arranged Rule 10b5-1 plans. Director Marla Blow sold 300 shares, while Chief Accounting Officer Merilee Buckley sold 405 shares. The transactions are modest in dollar value, but Buckley’s sale substantially reduced her remaining direct holdings and may create a minor sentiment overhang. Etsy insider stock sales

Wall Street Analyst Weigh In

ETSY has been the subject of a number of analyst reports. Evercore set a $83.00 price target on Etsy in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Etsy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Rosenblatt Securities started coverage on shares of Etsy in a research note on Thursday. They issued a “buy” rating and a $95.00 target price for the company. Canaccord Genuity Group set a $92.00 target price on shares of Etsy in a report on Thursday, August 6th. Finally, Guggenheim raised their price target on shares of Etsy from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $84.68.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.