Charles Andrew Ballard Sells 2,400 Shares of Etsy (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) Director Charles Andrew Ballard sold 2,400 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $62.42, for a total transaction of $149,808.00. Following the completion of the sale, the director directly owned 5,796 shares in the company, valued at $361,786.32. This trade represents a 29.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $54.43 on Thursday. The firm has a market cap of $5.39 billion, a PE ratio of 43.90, a price-to-earnings-growth ratio of 3.58 and a beta of 1.73. The firm’s 50 day simple moving average is $58.54 and its 200-day simple moving average is $52.42. Etsy, Inc. has a one year low of $40.05 and a one year high of $70.57.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company had revenue of $672.66 million for the quarter, compared to analysts’ expectations of $645.16 million. During the same period last year, the business posted $0.41 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP acquired a new position in shares of Etsy in the 4th quarter valued at $11,506,000. Dimensional Fund Advisors LP boosted its holdings in shares of Etsy by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,118,697 shares of the specialty retailer’s stock valued at $59,172,000 after buying an additional 33,736 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Etsy by 941.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,229 shares of the specialty retailer’s stock valued at $488,000 after buying an additional 8,343 shares in the last quarter. State of Tennessee Department of Treasury boosted its holdings in shares of Etsy by 15.9% in the 4th quarter. State of Tennessee Department of Treasury now owns 53,597 shares of the specialty retailer’s stock valued at $2,835,000 after buying an additional 7,338 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Etsy by 14.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 71,437 shares of the specialty retailer’s stock valued at $3,779,000 after buying an additional 8,804 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the subject of a number of research analyst reports. Arete raised shares of Etsy from a “sell” rating to a “neutral” rating and set a $54.00 price target for the company in a report on Thursday, August 7th. Bank of America lifted their price objective on shares of Etsy from $67.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their price objective on shares of Etsy from $41.00 to $57.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Citizens Jmp upgraded shares of Etsy to a “hold” rating in a research report on Thursday, July 10th. Finally, Needham & Company LLC boosted their price target on shares of Etsy from $55.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.80.

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.