Insider Selling: Etsy, Inc. (NASDAQ:ETSY) CAO Sells $81,118.40 in Stock

Etsy, Inc. (NASDAQ:ETSY) CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The sale was disclosed in a filing with the SEC, which is available through this link.

Etsy Stock Performance

Etsy stock opened at $44.42 on Friday. The stock has a 50-day simple moving average of $50.45 and a 200 day simple moving average of $52.43. The stock has a market capitalization of $4.76 billion, a P/E ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 52 week low of $43.43 and a 52 week high of $71.72.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on ETSY. Wells Fargo & Company reduced their price objective on Etsy from $47.00 to $46.00 and set an “underweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus reduced their price objective on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Canaccord Genuity Group decreased their target price on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and lowered their price objective for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. began coverage on Etsy in a research note on Wednesday, March 19th. They set a “neutral” rating and a $50.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC raised its stake in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. True Wealth Design LLC lifted its stake in Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new stake in Etsy in the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Etsy during the 4th quarter valued at approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of Etsy during the fourth quarter worth $37,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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.