Shares of Etsy Inc. (NASDAQ:ETSY) dropped 1.3% on Wednesday following insider selling activity. The company traded as low as $14.30 and last traded at $14.51, with a volume of 762,157 shares changing hands. The stock had previously closed at $14.70.
Specifically, insider John Allspaw sold 63,468 shares of Etsy stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total transaction of $793,350.00. Following the completion of the transaction, the insider now owns 66,864 shares of the company’s stock, valued at $835,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick R. Wilson sold 216,399 shares of Etsy stock in a transaction on Monday, August 8th. The stock was sold at an average price of $13.61, for a total transaction of $2,945,190.39. Following the transaction, the director now directly owns 822,062 shares of the company’s stock, valued at approximately $11,188,263.82. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
ETSY has been the subject of a number of analyst reports. Loop Capital initiated coverage on shares of Etsy in a research note on Tuesday, September 13th. They set a “hold” rating and a $14.00 target price for the company. Morgan Stanley reissued an “equal weight” rating and set a $13.50 target price (up previously from $11.50) on shares of Etsy in a research note on Monday, September 12th. Monness Crespi & Hardt raised shares of Etsy from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, September 21st. Vetr downgraded shares of Etsy from a “strong-buy” rating to a “buy” rating and set a $12.44 target price for the company. in a research note on Monday, August 1st. Finally, Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.09.
The stock’s market cap is $1.62 billion. The firm has a 50-day moving average of $14.00 and a 200-day moving average of $10.54.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $85.35 million for the quarter, compared to analysts’ expectations of $80.55 million. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) EPS. On average, equities analysts predict that Etsy Inc. will post ($0.01) EPS for the current year.
A number of large investors have recently made changes to their positions in ETSY. BlackRock Inc. boosted its stake in shares of Etsy by 341.2% in the second quarter. BlackRock Inc. now owns 10,615 shares of the company’s stock valued at $102,000 after buying an additional 8,209 shares during the last quarter. TFS Capital LLC purchased a new stake in shares of Etsy during the second quarter valued at $102,000. Legal & General Group Plc boosted its stake in shares of Etsy by 1,829.4% in the second quarter. Legal & General Group Plc now owns 11,017 shares of the company’s stock valued at $104,000 after buying an additional 10,446 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Etsy during the second quarter valued at $161,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Etsy during the second quarter valued at $123,000. 58.14% of the stock is owned by institutional investors and hedge funds.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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