Etsy, Inc. (NASDAQ:ETSY) Director Marla J. Blow Sells 450 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) Director Marla J. Blow sold 450 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $51.64, for a total transaction of $23,238.00. Following the sale, the director now directly owns 5,773 shares in the company, valued at $298,117.72. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Etsy Price Performance

Shares of ETSY opened at $52.30 on Friday. The firm has a market capitalization of $5.88 billion, a P/E ratio of 26.68, a PEG ratio of 6.14 and a beta of 1.99. Etsy, Inc. has a one year low of $47.10 and a one year high of $89.58. The business has a fifty day moving average of $52.03 and a 200 day moving average of $56.75.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The firm had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Analysts expect that Etsy, Inc. will post 2.25 EPS for the current fiscal year.

Etsy declared that its board has authorized a stock buyback program on Wednesday, October 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. boosted its position in shares of Etsy by 183.9% in the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after purchasing an additional 3,861,668 shares during the period. Van ECK Associates Corp boosted its holdings in Etsy by 14.3% in the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after buying an additional 721,454 shares during the period. Renaissance Technologies LLC increased its stake in Etsy by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after buying an additional 734,200 shares in the last quarter. Marshall Wace LLP raised its holdings in Etsy by 304.2% during the second quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after acquiring an additional 1,055,296 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Etsy by 76.2% in the second quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock worth $69,685,000 after acquiring an additional 517,480 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETSY. Wells Fargo & Company dropped their price target on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Bank of America cut their target price on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus lowered their price target on Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, The Goldman Sachs Group downgraded shares of Etsy from a “neutral” rating to a “sell” rating and cut their price objective for the company from $70.00 to $45.00 in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average price target of $64.87.

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.