Etsy (NYSE:ETSY) Director Charles Andrew Ballard Sells 4,500 Shares

Etsy Inc (NYSE:ETSY) Director Charles Andrew Ballard sold 4,500 shares of Etsy stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $81.85, for a total value of $368,325.00. Following the sale, the director directly owned 4,239 shares of the company’s stock, valued at approximately $346,962.15. The trade was a 51.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Etsy Price Performance

Shares of NYSE ETSY opened at $83.79 on Friday. The business’s 50-day moving average price is $80.83 and its two-hundred day moving average price is $66.23. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The company has a market capitalization of $7.95 billion, a P/E ratio of 46.81, a price-to-earnings-growth ratio of 4.01 and a beta of 1.84.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in Etsy by 10.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after acquiring an additional 158 shares during the last quarter. Alamea Verwaltungs GmbH boosted its holdings in Etsy by 2.3% during the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after acquiring an additional 169 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Etsy by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after purchasing an additional 180 shares during the last quarter. Blue Trust Inc. grew its position in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Etsy by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock worth $1,250,000 after purchasing an additional 224 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ETSY. Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to an “outperform” rating in a research note on Thursday, August 20th. Evercore set a $83.00 price target on shares of Etsy in a research note on Thursday, August 6th. Truist Financial raised their price target on shares of Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Citigroup lifted their price objective on shares of Etsy from $60.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $84.68.

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.