Etsy (NASDAQ:ETSY) CAO Sells $329,424.20 in Stock

Etsy, Inc. (NASDAQ:ETSY) CAO Merilee Buckley sold 5,636 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $58.45, for a total transaction of $329,424.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Merilee Buckley also recently made the following trade(s):

• On Monday, November 3rd, Merilee Buckley sold 11,827 shares of Etsy stock. The shares were sold at an average price of $61.47, for a total value of $727,005.69.

Etsy Price Performance

NASDAQ ETSY traded up $1.26 on Monday, hitting $58.54. 4,106,620 shares of the company’s stock were exchanged, compared to its average volume of 3,780,589. The firm’s 50-day moving average price is $56.79 and its two-hundred day moving average price is $59.71. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 47.21, a P/E/G ratio of 10.65 and a beta of 1.76. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.51.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $678.03 million for the quarter, compared to the consensus estimate of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. On average, research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Etsy declared that its board has authorized a share buyback program on Thursday, December 18th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 14.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Etsy

A number of institutional investors have recently modified their holdings of ETSY. Holocene Advisors LP boosted its position in Etsy by 697.4% during the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer’s stock worth $268,045,000 after acquiring an additional 4,673,615 shares during the last quarter. Lone Pine Capital LLC acquired a new stake in shares of Etsy during the third quarter worth $257,614,000. Van ECK Associates Corp grew its position in shares of Etsy by 1.3% in the third quarter. Van ECK Associates Corp now owns 3,695,089 shares of the specialty retailer’s stock valued at $245,317,000 after purchasing an additional 48,236 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Etsy by 62.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer’s stock valued at $185,197,000 after purchasing an additional 1,416,772 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Etsy by 112.8% during the first quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer’s stock worth $132,273,000 after buying an additional 1,486,142 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ETSY shares. Barclays increased their target price on shares of Etsy from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Moffett Nathanson reaffirmed a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. BNP Paribas began coverage on Etsy in a research report on Monday, November 24th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price target on Etsy from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, Morgan Stanley lifted their price target on Etsy from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.24.

About Etsy

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.