Insider Selling: Etsy, Inc. (NASDAQ:ETSY) Insider Sells 1,500 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Etsy Stock Performance

Shares of Etsy stock opened at $55.46 on Friday. The stock has a 50 day moving average price of $55.21 and a 200-day moving average price of $54.33. Etsy, Inc. has a one year low of $47.10 and a one year high of $80.30. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.69 and a beta of 2.00.

Etsy declared that its board has authorized a share buyback plan on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently made changes to their positions in ETSY. Pacer Advisors Inc. grew its holdings in Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after buying an additional 522,111 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Etsy by 12.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after buying an additional 188,386 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after buying an additional 850,520 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Etsy by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock worth $59,820,000 after acquiring an additional 122,126 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

ETSY has been the topic of several analyst reports. Stifel Nicolaus dropped their price target on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Morgan Stanley decreased their price target on Etsy from $47.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. UBS Group dropped their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, Barclays decreased their target price on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $62.42.

About Etsy

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.