Etsy Inc. (NASDAQ:ETSY)’s share price dropped 1.3% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $14.30 and last traded at $14.51, with a volume of 762,157 shares. The stock had previously closed at $14.70.
Specifically, CFO Kristina Salen sold 63,161 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $15.00, for a total transaction of $947,415.00. Following the completion of the sale, the chief financial officer now owns 64,903 shares in the company, valued at $973,545. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick R. Wilson sold 216,399 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $13.61, for a total value of $2,945,190.39. Following the sale, the director now owns 822,062 shares of the company’s stock, valued at approximately $11,188,263.82. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
ETSY has been the subject of several recent analyst reports. Citigroup Inc. initiated coverage on Etsy in a research note on Monday, August 1st. They set a “buy” rating and a $14.00 target price for the company. Goldman Sachs Group Inc. boosted their target price on Etsy from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Zacks Investment Research cut Etsy from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Monness Crespi & Hardt upgraded Etsy from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, September 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $13.50 price target (up previously from $11.50) on shares of Etsy in a research report on Monday, September 12th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.09.
The firm’s market capitalization is $1.60 billion. The stock has a 50-day moving average of $14.05 and a 200-day moving average of $10.60.
Etsy (NASDAQ:ETSY) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $85.35 million for the quarter, compared to analyst estimates of $80.55 million. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. On average, equities analysts expect that Etsy Inc. will post ($0.06) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Etsy by 341.2% in the second quarter. BlackRock Inc. now owns 10,615 shares of the company’s stock worth $102,000 after buying an additional 8,209 shares in the last quarter. TFS Capital LLC acquired a new position in shares of Etsy during the second quarter worth $102,000. Legal & General Group Plc increased its position in shares of Etsy by 1,829.4% in the second quarter. Legal & General Group Plc now owns 11,017 shares of the company’s stock worth $104,000 after buying an additional 10,446 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Etsy during the second quarter worth $123,000. Finally, Pacad Investment Ltd. acquired a new position in shares of Etsy during the first quarter worth $131,000. Institutional investors and hedge funds own 58.14% of the company’s stock.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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