Etsy, Inc. (NASDAQ:ETSY) Director Marla J. Blow Sells 450 Shares

Etsy, Inc. (NASDAQ:ETSY) Director Marla J. Blow sold 450 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $51.64, for a total transaction of $23,238.00. Following the transaction, the director now directly owns 5,773 shares of the company’s stock, valued at $298,117.72. This trade represents a 7.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Etsy Price Performance

Shares of ETSY stock opened at $52.30 on Friday. The stock’s 50-day moving average is $52.03 and its 200 day moving average is $56.75. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $89.58. The company has a market cap of $5.88 billion, a P/E ratio of 26.68, a PEG ratio of 6.14 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The firm had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, analysts anticipate that Etsy, Inc. will post 2.25 EPS for the current year.

Etsy declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Etsy

A number of large investors have recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Etsy by 112.3% during the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Etsy during the second quarter worth $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Etsy during the third quarter valued at $43,000. Finally, Prospera Private Wealth LLC purchased a new position in Etsy in the 3rd quarter worth $59,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETSY has been the subject of a number of recent research reports. Truist Financial dropped their price objective on shares of Etsy from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wedbush decreased their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Barclays decreased their price target on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup dropped their price objective on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.87.

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.