Nicholas Daniel Sells 750 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Friday, November 1st. The stock was sold at an average price of $52.50, for a total value of $39,375.00. Following the completion of the sale, the insider now directly owns 24,371 shares of the company’s stock, valued at $1,279,477.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nicholas Daniel also recently made the following trade(s):

• On Tuesday, October 1st, Nicholas Daniel sold 750 shares of Etsy stock. The stock was sold at an average price of $53.15, for a total value of $39,862.50.
• On Tuesday, September 3rd, Nicholas Daniel sold 750 shares of Etsy stock. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00.

Etsy Trading Up 0.9 %

ETSY traded up $0.46 during trading hours on Tuesday, hitting $52.73. The company’s stock had a trading volume of 3,321,791 shares, compared to its average volume of 3,765,768. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $89.58. The business’s 50-day moving average price is $52.54 and its 200-day moving average price is $57.91. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 6.19 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. During the same period in the previous year, the business posted $0.64 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Etsy, Inc. will post 2.27 earnings per share for the current year.

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

Institutional Trading of Etsy

A number of institutional investors have recently bought and sold shares of the stock. Everence Capital Management Inc. bought a new stake in shares of Etsy in the 3rd quarter worth about $834,000. TD Asset Management Inc lifted its stake in Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after purchasing an additional 221,275 shares during the last quarter. Diversified Trust Co boosted its position in shares of Etsy by 11.5% during the second quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock valued at $381,000 after buying an additional 668 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Etsy by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after buying an additional 16,458 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Etsy by 740.9% in the third quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock worth $3,082,000 after buying an additional 48,900 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on ETSY shares. Loop Capital reduced their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Wells Fargo & Company decreased their target price on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Etsy in a report on Thursday, October 31st. Wedbush decreased their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, UBS Group lowered their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.87.

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.