Merilee Buckley Sells 1,993 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) CAO Merilee Buckley sold 1,993 shares of Etsy stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $52.92, for a total value of $105,469.56. Following the sale, the chief accounting officer directly owned 809 shares in the company, valued at approximately $42,812.28. This trade represents a 71.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

NYSE:ETSY traded up $0.12 during midday trading on Wednesday, hitting $54.06. 2,859,518 shares of the stock were exchanged, compared to its average volume of 3,581,588. Etsy Inc has a one year low of $40.05 and a one year high of $76.51. The company has a market cap of $5.20 billion, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 3.30 and a beta of 1.77. The company’s 50-day moving average price is $52.15.

Etsy (NYSE:ETSY) last announced its earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.The firm had revenue of $881.64 million for the quarter.

Etsy announced that its Board of Directors has approved a stock buyback program on Thursday, December 18th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to buy up to 14.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Holocene Advisors LP increased its holdings in shares of Etsy by 697.4% in the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the company’s stock valued at $268,045,000 after buying an additional 4,673,615 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Etsy by 40.1% in the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after buying an additional 1,177,301 shares in the last quarter. Lone Pine Capital LLC bought a new position in shares of Etsy in the third quarter valued at $257,614,000. Van ECK Associates Corp grew its position in Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after purchasing an additional 39,067 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Etsy by 3.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock worth $89,338,000 after purchasing an additional 59,123 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ETSY. JPMorgan Chase & Co. dropped their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Barclays raised Etsy from an “equal weight” rating to an “overweight” rating and set a $72.00 target price on the stock in a report on Thursday, February 19th. Zacks Research raised Etsy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Canaccord Genuity Group dropped their target price on Etsy from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, B. Riley Financial dropped their target price on Etsy from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.80.

Etsy Company Profile

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.