Etsy (NASDAQ:ETSY) CMO Bradley Minor Sells 3,095 Shares

Etsy, Inc. (NASDAQ:ETSY) CMO Bradley Minor sold 3,095 shares of Etsy stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $57.81, for a total transaction of $178,921.95. Following the completion of the sale, the chief marketing officer directly owned 7,373 shares in the company, valued at approximately $426,233.13. The trade was a 29.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Etsy Stock Down 5.9%

Shares of ETSY opened at $56.74 on Friday. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $76.51. The company has a market capitalization of $5.60 billion, a PE ratio of 45.76, a P/E/G ratio of 10.65 and a beta of 1.87. The company has a 50-day simple moving average of $64.69 and a 200-day simple moving average of $58.31.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $678.03 million for the quarter, compared to the consensus estimate of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.Etsy’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. On average, research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its stake in shares of Etsy by 8.7% during the first quarter. Teacher Retirement System of Texas now owns 35,253 shares of the specialty retailer’s stock valued at $1,663,000 after purchasing an additional 2,811 shares during the period. Principal Financial Group Inc. lifted its holdings in Etsy by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 559,749 shares of the specialty retailer’s stock worth $26,409,000 after buying an additional 11,860 shares in the last quarter. D.A. Davidson & CO. boosted its position in Etsy by 15.8% in the 1st quarter. D.A. Davidson & CO. now owns 11,383 shares of the specialty retailer’s stock valued at $537,000 after buying an additional 1,557 shares during the last quarter. World Investment Advisors purchased a new position in Etsy in the 1st quarter valued at about $327,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Etsy by 85.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 30,455 shares of the specialty retailer’s stock valued at $1,394,000 after acquiring an additional 14,014 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ETSY shares. Zacks Research upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Arete Research raised shares of Etsy from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 7th. UBS Group boosted their price objective on shares of Etsy from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Sanford C. Bernstein upped their price target on Etsy from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Etsy from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $64.24.

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.