Etsy (NYSE:ETSY) Director Marla Blow Sells 300 Shares

Etsy Inc (NYSE:ETSY) Director Marla Blow sold 300 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $79.56, for a total transaction of $23,868.00. Following the transaction, the director owned 13,024 shares in the company, valued at $1,036,189.44. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

ETSY opened at $80.70 on Thursday. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97. The stock has a market cap of $7.66 billion, a P/E ratio of 45.08, a P/E/G ratio of 5.48 and a beta of 1.84. The stock’s 50 day simple moving average is $79.30 and its 200 day simple moving average is $64.88.

Etsy (NYSE:ETSY) last posted its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm 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 firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. Research analysts expect that Etsy Inc will post 3.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in Etsy during the second quarter worth approximately $34,000. EFG International AG acquired a new position in shares of Etsy in the 2nd quarter valued at $45,000. Danske Bank A S acquired a new stake in shares of Etsy during the 3rd quarter worth $66,000. CoreCap Advisors LLC raised its position in shares of Etsy by 2,379.1% in the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock worth $80,000 after buying an additional 1,023 shares during the period. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after buying an additional 225 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETSY has been the topic of several recent research reports. Bank of America upped their price objective on Etsy from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Sanford C. Bernstein upped their target price on shares of Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, April 30th. President Capital raised shares of Etsy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $91.00 in a research note on Thursday, June 25th. Guggenheim lifted their price target on shares of Etsy from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Piper Sandler boosted their price objective on shares of Etsy from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $82.73.

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.