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

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

Etsy Price Performance

Shares of ETSY stock traded up $0.31 during trading hours on Friday, reaching $52.30. The stock had a trading volume of 2,374,990 shares, compared to its average volume of 3,740,319. The firm has a market capitalization of $5.88 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 5.95 and a beta of 1.99. The firm has a 50-day simple moving average of $52.03 and a 200-day simple moving average of $56.75. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $89.58.

Etsy (NASDAQ:ETSY) last issued 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). The business had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. Etsy’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy declared that its board has authorized a stock buyback plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Etsy

Large investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky lifted its position in shares of Etsy by 32.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 27,911 shares of the specialty retailer’s stock valued at $1,550,000 after acquiring an additional 6,766 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Etsy by 11.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock valued at $239,000 after purchasing an additional 448 shares during the last quarter. M&T Bank Corp boosted its position in shares of Etsy by 18.8% in the 3rd quarter. M&T Bank Corp now owns 5,600 shares of the specialty retailer’s stock valued at $311,000 after purchasing an additional 885 shares during the period. PYA Waltman Capital LLC raised its holdings in Etsy by 34.3% during the 3rd quarter. PYA Waltman Capital LLC now owns 23,048 shares of the specialty retailer’s stock worth $1,280,000 after buying an additional 5,889 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Etsy during the third quarter valued at about $4,376,000. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ETSY shares. Loop Capital lowered their price target on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Citigroup reduced their price target on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Wedbush reduced their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group downgraded Etsy from a “neutral” rating to a “sell” rating and lowered their price target for the company from $70.00 to $45.00 in a report on Tuesday, October 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, October 31st. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Etsy currently has an average rating of “Hold” and an average 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.