Insider Selling: Etsy (NYSE:ETSY) CFO Sells $128,627.94 in Stock

Etsy Inc (NYSE:ETSY) CFO Charles Baker sold 1,407 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $91.42, for a total transaction of $128,627.94. Following the transaction, the chief financial officer owned 15,958 shares of the company’s stock, valued at approximately $1,458,880.36. The trade was a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Performance

Shares of NYSE ETSY opened at $90.08 on Friday. The company has a market capitalization of $7.77 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 2.53 and a beta of 1.76. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $97.85. The company’s 50 day moving average price is $79.61 and its 200-day moving average price is $68.98.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $7.31 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $6.55. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The company had revenue of $692.47 million for the quarter, compared to analyst estimates of $669.04 million. During the same period in the prior year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts forecast that Etsy Inc will post 4.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Etsy in the third quarter valued at approximately $421,000. Fifth Third Bancorp increased its holdings in shares of Etsy by 128.8% during the third quarter. Fifth Third Bancorp now owns 51,388 shares of the company’s stock valued at $3,674,000 after acquiring an additional 28,928 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of Etsy by 30.5% during the third quarter. Maryland State Retirement & Pension System now owns 24,812 shares of the company’s stock worth $1,774,000 after purchasing an additional 5,797 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Etsy during the third quarter worth approximately $697,000. Finally, Joel Isaacson & Co. LLC acquired a new position in shares of Etsy during the third quarter worth approximately $506,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ETSY. Truist Financial upped their target price on Etsy from $90.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Piper Sandler lifted their target price on Etsy from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Citigroup boosted their price target on Etsy from $92.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. The Goldman Sachs Group boosted their price target on Etsy from $89.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Finally, Evercore set a $83.00 price target on Etsy in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.07.

Etsy Company Profile

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.