Etsy (NYSE:ETSY) Insider Richard Edward Colburn III Sells 2,913 Shares

Etsy Inc (NYSE:ETSY) insider Richard Edward Colburn III sold 2,913 shares of Etsy stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $82.11, for a total transaction of $239,186.43. Following the transaction, the insider directly owned 6,503 shares of the company’s stock, valued at $533,961.33. The trade was a 30.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Richard Edward Colburn III also recently made the following trade(s):

• On Monday, August 10th, Richard Edward Colburn III sold 8,252 shares of Etsy stock. The shares were sold at an average price of $82.09, for a total transaction of $677,406.68.

Etsy Price Performance

Shares of Etsy stock traded up $0.16 during trading on Thursday, hitting $81.88. The stock had a trading volume of 2,628,958 shares, compared to its average volume of 3,233,756. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.97. The firm’s fifty day simple moving average is $81.31 and its 200-day simple moving average is $67.25. The stock has a market cap of $7.77 billion, a PE ratio of 45.74, a PEG ratio of 2.04 and a beta of 1.81.

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

Key Headlines Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Zacks Research upgraded Etsy from “hold” to “strong-buy,” providing a positive technical and sentiment catalyst for the stock. Etsy investor conference announcement
• Positive Sentiment: Etsy will participate in the Goldman Sachs Communacopia and Technology Conference on September 9. Investors may look for updates on marketplace trends, growth initiatives and outlook during the webcast fireside chat, although no new financial guidance was provided. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Several executives and directors reported stock sales totaling roughly 36,280 shares. Josh Silverman sold 13,367 shares, director Frederick Wilson sold 20,000 shares, and Richard Edward Colburn III sold 2,913 shares. Silverman’s and Wilson’s transactions were executed under pre-arranged Rule 10b5-1 plans, while Colburn’s sale covered tax withholding tied to vested equity awards, reducing the likelihood that the trades signal deteriorating confidence. Etsy insider transaction filing
• Negative Sentiment: The insider transactions represent near-term selling pressure and may attract investor attention because they occurred around the $82–$84 range. However, the sellers retained substantial holdings, including Silverman’s approximately 249,559 shares and Wilson’s approximately 401,329 shares. Etsy director transaction filing

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its position in shares of Etsy by 19.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after buying an additional 961 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Etsy by 55.5% in the first quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after acquiring an additional 3,451 shares in the last quarter. Woodline Partners LP purchased a new stake in Etsy in the first quarter worth about $2,181,000. Northwestern Mutual Wealth Management Co. lifted its stake in Etsy by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after acquiring an additional 906 shares during the period. Finally, M&T Bank Corp bought a new position in Etsy during the 2nd quarter worth about $232,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ETSY shares. Loop Capital set a $105.00 price target on Etsy in a research note on Thursday, August 20th. Sanford C. Bernstein upgraded Etsy from a “hold” rating to an “outperform” rating in a research note on Thursday, August 20th. Seaport Research Partners upgraded Etsy to a “buy” rating in a research report on Thursday, August 20th. President Capital raised shares of Etsy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $91.00 in a research note on Thursday, June 25th. Finally, Wedbush assumed coverage on shares of Etsy in a report on Thursday, July 16th. They issued a “neutral” rating and a $80.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.