Etsy (NASDAQ:ETSY) Insider Sells $576,451.85 in Stock

Etsy, Inc. (NASDAQ:ETSY) insider Goyal Kruti Patel sold 7,685 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $75.01, for a total transaction of $576,451.85. Following the transaction, the insider owned 54,840 shares in the company, valued at approximately $4,113,548.40. The trade was a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Goyal Kruti Patel also recently made the following trade(s):

• On Thursday, August 7th, Goyal Kruti Patel sold 11,944 shares of Etsy stock. The shares were sold at an average price of $59.31, for a total value of $708,398.64.

Etsy Stock Down 0.2%

Shares of NASDAQ:ETSY opened at $72.38 on Friday. The business has a 50 day moving average of $61.07 and a 200-day moving average of $54.38. The stock has a market cap of $7.17 billion, a PE ratio of 58.37, a P/E/G ratio of 4.61 and a beta of 1.85. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.52.

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

Analyst Ratings Changes

Several brokerages recently weighed in on ETSY. Bank of America boosted their price objective on shares of Etsy from $67.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Barclays reissued a “positive” rating and set a $60.00 price objective (up previously from $52.00) on shares of Etsy in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Etsy from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Guggenheim reiterated a “buy” rating and issued a $70.00 target price on shares of Etsy in a report on Thursday, September 18th. Finally, Arete raised shares of Etsy from a “sell” rating to a “neutral” rating and set a $54.00 price target on the stock in a research report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average target price of $58.69.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Holocene Advisors LP raised its holdings in Etsy by 697.4% in the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer’s stock worth $268,045,000 after purchasing an additional 4,673,615 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Etsy by 423.7% during the first quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer’s stock valued at $218,890,000 after buying an additional 3,768,787 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Etsy by 112.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer’s stock valued at $132,273,000 after purchasing an additional 1,486,142 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Etsy by 62.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer’s stock worth $185,197,000 after buying an additional 1,416,772 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Etsy during the second quarter valued at approximately $65,207,000. 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.