Etsy (NYSE:ETSY) Director Sells $1,637,200.00 in Stock

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $81.86, for a total transaction of $1,637,200.00. Following the sale, the director directly owned 401,329 shares in the company, valued at $32,852,791.94. The trade was a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

NYSE:ETSY opened at $76.39 on Friday. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97. The stock’s fifty day moving average price is $81.28 and its two-hundred day moving average price is $67.31. The company has a market cap of $7.25 billion, a P/E ratio of 42.68, a P/E/G ratio of 1.91 and a beta of 1.81.

Etsy (NYSE:ETSY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The company had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. During the same quarter last year, the firm posted $0.25 earnings per share. Etsy’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts expect that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ETSY shares. Barclays upped their price target on Etsy from $82.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. The Goldman Sachs Group started coverage on shares of Etsy in a research report on Monday, August 17th. They issued a “neutral” rating and a $89.00 price objective for the company. Wall Street Zen cut shares of Etsy from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Citigroup upped their target price on shares of Etsy from $60.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Morgan Stanley upgraded shares of Etsy from an “underweight” rating to an “outperform” rating in a research note on Thursday, August 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.68.

Institutional Trading of Etsy

A number of large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in shares of Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after purchasing an additional 158 shares during the last quarter. Alamea Verwaltungs GmbH lifted its position in Etsy by 2.3% during the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after purchasing an additional 169 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Etsy by 2.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock worth $419,000 after buying an additional 180 shares in the last quarter. Blue Trust Inc. grew its stake in Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after buying an additional 200 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Etsy by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock worth $1,250,000 after buying an additional 224 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analyst support and upcoming conference: Etsy has a “Moderate Buy” consensus rating and an average price target of $84.68, while Morgan Stanley recently upgraded the stock to “outperform.” Management will also participate in the Goldman Sachs Communacopia and Technology Conference on September 9, giving investors an opportunity to hear updates on marketplace trends, growth initiatives and the outlook. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Post-earnings estimates are the next focus: About 30 days after its latest report, investors are watching whether earnings estimates can improve enough to support a rebound. Etsy exceeded revenue expectations with $668.31 million, compared with the $646.10 million consensus, but revenue declined 0.7% year over year and reported EPS of negative $0.49 missed the $0.75 estimate by a wide margin. Analysts currently expect approximately $3.94 in full-year EPS. Etsy Down Since Last Earnings Report
• Negative Sentiment: Insider selling may weigh on sentiment: Executives and directors disclosed sales totaling roughly 36,280 shares, including CEO Josh Silverman’s sales, director Frederick Wilson’s 20,000-share sale and Richard Colburn’s sale to cover tax withholding. Most transactions were made under pre-arranged Rule 10b5-1 plans, and the insiders retained sizable positions, reducing their value as a direct bearish signal; nevertheless, the cluster of sales creates near-term selling pressure and may raise investor concerns. Etsy Insider Selling Report

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.