Etsy, Inc. (NASDAQ:ETSY) CAO Merilee Buckley Sells 1,676 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Etsy Trading Down 1.4 %

Etsy stock opened at $51.10 on Friday. The company has a market capitalization of $5.98 billion, a PE ratio of 23.33, a P/E/G ratio of 5.39 and a beta of 1.97. Etsy, Inc. has a 12 month low of $50.54 and a 12 month high of $89.58. The stock has a 50-day moving average price of $55.38 and a two-hundred day moving average price of $60.64.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts predict that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ETSY. Sanctuary Advisors LLC purchased a new stake in Etsy during the second quarter valued at about $967,000. Clearline Capital LP increased its position in shares of Etsy by 73.0% in the second quarter. Clearline Capital LP now owns 415,943 shares of the specialty retailer’s stock worth $24,532,000 after purchasing an additional 175,522 shares during the last quarter. Scientech Research LLC bought a new position in shares of Etsy in the second quarter worth approximately $241,000. The Manufacturers Life Insurance Company grew its position in Etsy by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 96,488 shares of the specialty retailer’s stock valued at $5,691,000 after acquiring an additional 1,720 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in shares of Etsy during the second quarter valued at approximately $505,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ETSY shares. Wolfe Research started coverage on shares of Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Stifel Nicolaus lowered their target price on shares of Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Etsy in a report on Monday. Wells Fargo & Company reduced their price target on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus price target of $70.22.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.