Marla Blow Sells 300 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) Director Marla Blow sold 300 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $79.56, for a total value of $23,868.00. Following the completion of the sale, the director owned 13,024 shares in the company, valued at approximately $1,036,189.44. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Performance

NYSE ETSY traded up $0.74 during trading on Wednesday, reaching $80.70. 2,047,129 shares of the company’s stock were exchanged, compared to its average volume of 3,265,948. The company has a 50 day moving average price of $79.30 and a two-hundred day moving average price of $64.88. The stock has a market cap of $7.66 billion, a P/E ratio of 45.08, a price-to-earnings-growth ratio of 5.47 and a beta of 1.84. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ETSY. Arete Research set a $76.00 target price on Etsy and gave the company a “buy” rating in a research report on Wednesday, May 20th. Wall Street Zen lowered Etsy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Sanford C. Bernstein boosted their price objective on Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, April 30th. Canaccord Genuity Group set a $92.00 price objective on Etsy in a report on Thursday, August 6th. Finally, Raymond James Financial lifted their target price on shares of Etsy from $75.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $82.73.

Hedge Funds Weigh In On Etsy

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

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.