Frederick Wilson Sells 20,000 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $81.86, for a total value of $1,637,200.00. Following the completion of the transaction, the director owned 401,329 shares of the company’s stock, valued at $32,852,791.94. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Trading Down 6.9%

Shares of Etsy stock opened at $76.39 on Friday. The firm has a market capitalization of $7.25 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 2.05 and a beta of 1.81. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.97. The business’s 50-day moving average price is $81.28 and its 200-day moving average price is $67.31.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $646.10 million. During the same period in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts predict that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in ETSY. EFG International AG bought a new stake in Etsy in the fourth quarter valued at $33,000. Global Retirement Partners LLC purchased a new stake in shares of Etsy in the 2nd quarter worth about $34,000. Blue Trust Inc. boosted its stake in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Danske Bank A S purchased a new position in shares of Etsy during the third quarter valued at about $66,000. Finally, Federation des caisses Desjardins du Quebec increased its position in shares of Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after buying an additional 225 shares during the period. Institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ETSY. Barclays lifted their price objective on Etsy from $82.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Raymond James Financial raised their price target on Etsy from $75.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Wells Fargo & Company lifted their price target on Etsy from $61.00 to $76.00 and gave the stock an “underweight” rating in a research note on Friday, August 7th. Morgan Stanley raised Etsy from an “underweight” rating to an “outperform” rating in a research note on Thursday, August 20th. Finally, Canaccord Genuity Group set a $92.00 target price on shares of Etsy in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Etsy has a consensus rating of “Moderate Buy” and a consensus price target of $84.68.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analyst support and upcoming conference: Etsy has a “Moderate Buy” consensus rating and an average price target of $84.68, while Morgan Stanley recently upgraded the stock to “outperform.” Management will also participate in the Goldman Sachs Communacopia and Technology Conference on September 9, giving investors an opportunity to hear updates on marketplace trends, growth initiatives and the outlook. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Post-earnings estimates are the next focus: About 30 days after its latest report, investors are watching whether earnings estimates can improve enough to support a rebound. Etsy exceeded revenue expectations with $668.31 million, compared with the $646.10 million consensus, but revenue declined 0.7% year over year and reported EPS of negative $0.49 missed the $0.75 estimate by a wide margin. Analysts currently expect approximately $3.94 in full-year EPS. Etsy Down Since Last Earnings Report
• Negative Sentiment: Insider selling may weigh on sentiment: Executives and directors disclosed sales totaling roughly 36,280 shares, including CEO Josh Silverman’s sales, director Frederick Wilson’s 20,000-share sale and Richard Colburn’s sale to cover tax withholding. Most transactions were made under pre-arranged Rule 10b5-1 plans, and the insiders retained sizable positions, reducing their value as a direct bearish signal; nevertheless, the cluster of sales creates near-term selling pressure and may raise investor concerns. Etsy Insider Selling Report

Etsy Company Profile

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.