Richard Edward Colburn III Sells 2,350 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the transaction, the chief technology officer now directly owns 2,896 shares in the company, valued at $136,140.96. The trade was a 44.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Etsy Stock Performance

ETSY stock opened at $47.02 on Friday. The stock’s 50 day simple moving average is $45.37 and its 200 day simple moving average is $50.90. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The company has a market cap of $4.90 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same period last year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. B. Riley cut their target price on Etsy from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Etsy in a report on Wednesday, April 30th. Morgan Stanley cut their target price on Etsy from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald lifted their target price on Etsy from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Etsy from $50.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Etsy currently has an average rating of “Hold” and an average target price of $50.14.

Institutional Inflows and Outflows

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

About Etsy

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.