Etsy (NYSE:ETSY) Director Frederick Wilson Sells 20,000 Shares of Stock

Etsy Inc (NYSE:ETSY) Director Frederick Wilson sold 20,000 shares of Etsy stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $81.86, for a total transaction of $1,637,200.00. Following the completion of the transaction, the director owned 401,329 shares in the company, valued at approximately $32,852,791.94. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Price Performance

Shares of NYSE:ETSY traded up $0.16 on Thursday, reaching $81.88. 2,628,958 shares of the company traded hands, compared to its average volume of 3,233,756. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97. The company’s 50 day moving average is $81.23 and its 200-day moving average is $66.99. The stock has a market capitalization of $7.77 billion, a PE ratio of 45.74, a P/E/G ratio of 2.04 and a beta of 1.81.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). The company had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. As a group, analysts expect that Etsy Inc will post 3.94 EPS for the current year.

Wall Street Analysts Forecast Growth

ETSY has been the subject of a number of recent analyst reports. Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Thursday, May 21st. Wall Street Zen downgraded Etsy from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Truist Financial upped their price objective on shares of Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. BTIG Research cut shares of Etsy from a “buy” rating to a “neutral” rating in a report on Thursday, July 16th. Finally, Susquehanna downgraded shares of Etsy to a “neutral” rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.68.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Zacks Research upgraded Etsy from “hold” to “strong-buy,” providing a positive technical and sentiment catalyst for the stock. Etsy investor conference announcement
• Positive Sentiment: Etsy will participate in the Goldman Sachs Communacopia and Technology Conference on September 9. Investors may look for updates on marketplace trends, growth initiatives and outlook during the webcast fireside chat, although no new financial guidance was provided. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Several executives and directors reported stock sales totaling roughly 36,280 shares. Josh Silverman sold 13,367 shares, director Frederick Wilson sold 20,000 shares, and Richard Edward Colburn III sold 2,913 shares. Silverman’s and Wilson’s transactions were executed under pre-arranged Rule 10b5-1 plans, while Colburn’s sale covered tax withholding tied to vested equity awards, reducing the likelihood that the trades signal deteriorating confidence. Etsy insider transaction filing
• Negative Sentiment: The insider transactions represent near-term selling pressure and may attract investor attention because they occurred around the $82–$84 range. However, the sellers retained substantial holdings, including Silverman’s approximately 249,559 shares and Wilson’s approximately 401,329 shares. Etsy director transaction filing

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its stake in Etsy by 7,217.3% during the 2nd quarter. California State Teachers Retirement System now owns 7,561,851 shares of the company’s stock valued at $569,634,000 after acquiring an additional 7,458,509 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after purchasing an additional 594,768 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Etsy by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after purchasing an additional 1,177,301 shares during the period. Van ECK Associates Corp grew its position in Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after purchasing an additional 39,067 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after purchasing an additional 1,112,520 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily 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. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.