Etsy (NYSE:ETSY) Director Sells 6,000 Shares of Company Stock

Etsy Inc (NYSE:ETSY) Director Marla Blow sold 6,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $92.67, for a total transaction of $556,020.00. Following the completion of the transaction, the director directly owned 7,024 shares in the company, valued at $650,914.08. This trade represents a 46.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Etsy Price Performance

Shares of NYSE:ETSY traded up $3.56 during midday trading on Monday, hitting $92.52. 5,002,797 shares of the company’s stock were exchanged, compared to its average volume of 3,275,243. The stock has a 50 day moving average price of $78.74 and a 200-day moving average price of $68.21. The company has a market cap of $7.98 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.75. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $95.49.

Etsy (NYSE:ETSY) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $7.31 earnings per share for the quarter, beating the consensus estimate of $0.76 by $6.55. The business had revenue of $692.47 million for the quarter, compared to analysts’ expectations of $669.04 million. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. On average, analysts anticipate that Etsy Inc will post 3.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on ETSY shares. Guggenheim lifted their target price on Etsy from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday. Barclays increased their price target on Etsy from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of Etsy in a research note on Wednesday. B. Riley Financial lifted their price objective on shares of Etsy from $82.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Royal Bank Of Canada lowered shares of Etsy to a “sector perform” rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $94.07.

Hedge Funds Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after purchasing an additional 594,768 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after purchasing an additional 1,112,520 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Etsy by 48.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock valued at $121,532,000 after purchasing an additional 523,092 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Etsy during the 2nd quarter valued at $120,417,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Etsy by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company’s stock worth $78,642,000 after purchasing an additional 100,542 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

About Etsy

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.