Etsy (NASDAQ:ETSY) Trading Up 3.9% – Here’s What Happened

Shares of Etsy, Inc. (NASDAQ:ETSY) traded up 3.9% during trading on Tuesday . The stock traded as high as $47.50 and last traded at $47.64. 631,021 shares changed hands during trading, a decline of 82% from the average session volume of 3,589,961 shares. The stock had previously closed at $45.86.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ETSY. Cantor Fitzgerald decreased their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Loop Capital lowered their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus cut their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley decreased their price target on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company increased their price objective on Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.42.

Etsy Stock Down 2.4 %

The stock has a fifty day simple moving average of $51.17 and a 200 day simple moving average of $52.71. The firm has a market capitalization of $5.00 billion, a P/E ratio of 19.70, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same quarter last year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the sale, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is owned by insiders.

Institutional Trading of Etsy

A number of large investors have recently made changes to their positions in ETSY. Lindbrook Capital LLC increased its stake in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. True Wealth Design LLC increased its position in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 292 shares during the last quarter. Hurley Capital LLC purchased a new stake in Etsy during the 4th quarter valued at $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Etsy in the fourth quarter worth $34,000. Finally, Summit Securities Group LLC purchased a new position in Etsy during the fourth quarter worth $37,000. 99.53% of the stock is currently owned by institutional investors.

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.