Nicholas Daniel Sells 1,500 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now directly owns 20,698 shares in the company, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nicholas Daniel also recently made the following trade(s):

• On Monday, February 3rd, Nicholas Daniel sold 1,500 shares of Etsy stock. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00.

Etsy Stock Performance

ETSY stock opened at $46.80 on Friday. The company’s fifty day moving average price is $53.29 and its 200-day moving average price is $53.59. Etsy, Inc. has a one year low of $45.85 and a one year high of $73.48. The company has a market capitalization of $5.01 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. On average, research analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Etsy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETSY. Brooklyn FI LLC purchased a new stake in shares of Etsy during the 4th quarter worth approximately $5,229,000. Neo Ivy Capital Management bought a new stake in Etsy in the fourth quarter worth $3,334,000. GTS Securities LLC raised its stake in Etsy by 142.3% during the fourth quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock valued at $776,000 after purchasing an additional 49,333 shares in the last quarter. PharVision Advisers LLC bought a new position in Etsy during the fourth quarter valued at $283,000. Finally, Voloridge Investment Management LLC grew its stake in shares of Etsy by 40.6% in the 4th quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer’s stock worth $25,200,000 after buying an additional 137,602 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ETSY shares. Stifel Nicolaus lowered their price objective on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. JMP Securities reissued a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Wells Fargo & Company raised their price target on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Truist Financial reduced their price objective on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Citigroup dropped their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.78.

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.