Etsy (NYSE:ETSY) CFO Charles Baker Sells 1,407 Shares of Stock

Etsy Inc (NYSE:ETSY) CFO Charles Baker sold 1,407 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $91.42, for a total transaction of $128,627.94. Following the transaction, the chief financial officer owned 15,958 shares of the company’s stock, valued at approximately $1,458,880.36. This represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Etsy Stock Performance

NYSE ETSY traded down $4.93 during trading on Thursday, reaching $91.31. 4,453,229 shares of the company traded hands, compared to its average volume of 3,279,666. The stock’s 50 day moving average price is $79.28 and its two-hundred day moving average price is $68.67. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.91 and a beta of 1.76. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $97.85.

Etsy (NYSE:ETSY) last announced its earnings results on Wednesday, October 28th. The company reported $7.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $6.55. The business had revenue of $692.47 million during the quarter, compared to analysts’ expectations of $669.04 million. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. Equities research analysts expect that Etsy Inc will post 4.31 EPS for the current fiscal year.

Institutional Trading of Etsy

Large investors have recently bought and sold shares of the business. William Blair Investment Management LLC purchased a new position in shares of Etsy during the second quarter valued at approximately $120,417,000. Arrowstreet Capital Limited Partnership raised its position in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after acquiring an additional 1,112,520 shares during the period. Findlay Park Partners LLP purchased a new stake in shares of Etsy during the 2nd quarter worth approximately $66,170,000. Renaissance Technologies LLC lifted its stake in Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after purchasing an additional 594,768 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Etsy in the second quarter valued at approximately $42,781,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ETSY shares. Guggenheim increased their price target on shares of Etsy from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Bank of America restated a “buy” rating and set a $115.00 target price on shares of Etsy in a report on Thursday, October 29th. Cantor Fitzgerald boosted their price objective on Etsy from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Loop Capital set a $105.00 price objective on Etsy in a research note on Thursday, August 20th. Finally, Jefferies Financial Group raised their target price on Etsy from $90.00 to $100.00 and gave the company a “hold” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.07.

About Etsy

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.