Etsy, Inc. (NASDAQ:ETSY – Get Free Report) reached a new 52-week low during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $71.28 and last traded at $72.69, with a volume of 100510 shares traded. The stock had previously closed at $72.24.
Specifically, Director Marla J. Blow sold 600 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $73.11, for a total transaction of $43,866.00. Following the completion of the transaction, the director now directly owns 3,289 shares in the company, valued at $240,458.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $95.57, for a total transaction of $1,992,634.50. Following the sale, the chief executive officer now directly owns 14,674 shares of the company’s stock, valued at $1,402,394.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Marla J. Blow sold 600 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $73.11, for a total value of $43,866.00. Following the completion of the transaction, the director now directly owns 3,289 shares of the company’s stock, valued at approximately $240,458.79. The disclosure for this sale can be found here. Insiders have sold 85,998 shares of company stock valued at $8,014,974 in the last 90 days. 2.60% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Jefferies Financial Group upped their target price on Etsy from $75.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, July 25th. The Goldman Sachs Group reduced their price objective on shares of Etsy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Monday, July 17th. StockNews.com began coverage on shares of Etsy in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Evercore ISI cut their price target on shares of Etsy from $140.00 to $120.00 in a research note on Thursday, May 4th. Finally, Bank of America lowered their price objective on Etsy from $123.00 to $110.00 in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $118.43.
Etsy Stock Down 0.1 %
The firm has a market cap of $9.14 billion, a P/E ratio of -12.60, a PEG ratio of 3.67 and a beta of 2.00. The firm has a fifty day moving average of $85.81 and a 200-day moving average of $97.14.
Etsy (NASDAQ:ETSY – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.42. The company had revenue of $628.88 million for the quarter, compared to analyst estimates of $621.87 million. Etsy had a negative net margin of 26.84% and a negative return on equity of 69.10%. Sell-side analysts anticipate that Etsy, Inc. will post 2.73 EPS for the current year.
Institutional Trading of Etsy
Several institutional investors and hedge funds have recently made changes to their positions in ETSY. OLD Mission Capital LLC acquired a new stake in shares of Etsy during the fourth quarter worth $25,000. First Capital Advisors Group LLC. acquired a new position in shares of Etsy during the 2nd quarter worth about $25,000. Valley National Advisers Inc. increased its stake in shares of Etsy by 129.5% in the 1st quarter. Valley National Advisers Inc. now owns 257 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 145 shares during the last quarter. Spire Wealth Management grew its holdings in Etsy by 184.1% during the first quarter. Spire Wealth Management now owns 233 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Finally, CoreCap Advisors LLC bought a new stake in Etsy in the fourth quarter valued at approximately $28,000. Institutional investors own 92.98% of the company’s stock.
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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.
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