Insider Selling: Etsy (NYSE:ETSY) Director Sells $556,020.00 in Stock

Etsy Inc (NYSE:ETSY) Director Marla Blow sold 6,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $92.67, for a total transaction of $556,020.00. Following the sale, the director owned 7,024 shares of the company’s stock, valued at approximately $650,914.08. This trade represents a 46.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Etsy Trading Up 4.0%

ETSY stock traded up $3.56 during midday trading on Monday, hitting $92.52. The stock had a trading volume of 5,002,797 shares, compared to its average volume of 3,275,243. The firm has a market cap of $7.98 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.75. The business has a fifty day moving average price of $78.74 and a two-hundred day moving average price of $68.21. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $95.49.

Etsy (NYSE:ETSY) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $7.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $6.55. Etsy had a negative return on equity of 43.65% and a net margin of 34.36%. The firm had revenue of $692.47 million during the quarter, compared to the consensus estimate of $669.04 million. During the same period last year, the business posted $0.63 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts anticipate that Etsy Inc will post 3.94 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after acquiring an additional 594,768 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Etsy by 48.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock worth $121,532,000 after purchasing an additional 523,092 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Etsy during the second quarter worth approximately $120,417,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Etsy by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company’s stock worth $78,642,000 after purchasing an additional 100,542 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ETSY shares. UBS Group increased their price target on Etsy from $86.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of Etsy in a research note on Wednesday. Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 11th. Royal Bank Of Canada lowered shares of Etsy to a “sector perform” rating in a research note on Thursday, August 20th. Finally, Citigroup raised their price target on shares of Etsy from $92.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.07.

Etsy Company Profile

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.