Insider Selling: Etsy (NYSE:ETSY) Insider Sells $239,186.43 in Stock

Etsy Inc (NYSE:ETSY) insider Richard Edward Colburn III sold 2,913 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $82.11, for a total value of $239,186.43. Following the completion of the sale, the insider directly owned 6,503 shares in the company, valued at approximately $533,961.33. The trade was a 30.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Richard Edward Colburn III also recently made the following trade(s):

• On Monday, August 10th, Richard Edward Colburn III sold 8,252 shares of Etsy stock. The shares were sold at an average price of $82.09, for a total transaction of $677,406.68.

Etsy Trading Down 6.9%

ETSY stock opened at $76.39 on Friday. 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 is $81.28 and its 200 day moving average is $67.31. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 1.91 and a beta of 1.81.

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

Institutional Trading of Etsy

A number of large investors have recently made changes to their positions in ETSY. EFG International AG purchased a new stake in shares of Etsy in the 4th quarter valued at approximately $33,000. Global Retirement Partners LLC purchased a new stake in shares of Etsy during the 2nd quarter worth $34,000. Blue Trust Inc. grew its stake in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares in the last quarter. Danske Bank A S purchased a new position in Etsy in the third quarter valued at $66,000. Finally, Federation des caisses Desjardins du Quebec increased its holdings in Etsy by 22.8% in 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 last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy News Roundup

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

Wall Street Analysts Forecast Growth

ETSY has been the topic of a number of recent research reports. Arete Research set a $76.00 price objective on Etsy and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Cantor Fitzgerald lifted their price target on Etsy from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Evercore set a $83.00 price target on shares of Etsy in a research report on Thursday, August 6th. Roth Capital began coverage on shares of Etsy in a report on Thursday, May 21st. They issued a “buy” rating for the company. Finally, Argus upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.68.

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.