Key Points
- Director Charles Andrew Ballard sold 1,790 shares on March 4 at an average price of $55.74 for about $99,775, cutting his ownership by 30.88% to 4,006 shares (worth roughly $223,294).
- The Board authorized a $750 million buyback (up to ~14.2% of outstanding shares), but several brokers have trimmed price targets and Etsy's consensus rating remains "Hold" with a $60.40 target.
- ETSY shares slipped about 3.1% to $54.89, valuing the company at roughly $5.28 billion with a P/E of 44.27 and a 12‑month range of $40.05–$76.51.
Etsy, Inc. (NASDAQ:ETSY - Get Free Report) Director Charles Andrew Ballard sold 1,790 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total value of $99,774.60. Following the transaction, the director owned 4,006 shares in the company, valued at $223,294.44. The trade was a 30.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Etsy Stock Down 3.1%
ETSY stock traded down $1.74 during trading on Friday, hitting $54.89. 1,907,614 shares of the company's stock traded hands, compared to its average volume of 4,000,230. The firm has a market capitalization of $5.28 billion, a P/E ratio of 44.27, a PEG ratio of 10.65 and a beta of 1.74. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $76.51. The business has a fifty day simple moving average of $55.64 and a two-hundred day simple moving average of $58.92.
Etsy declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 18th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 14.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several brokerages have commented on ETSY. Citigroup restated a "buy" rating on shares of Etsy in a research note on Tuesday, December 30th. UBS Group dropped their price target on shares of Etsy from $74.00 to $53.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Cantor Fitzgerald decreased their target price on Etsy from $55.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, February 20th. Morgan Stanley dropped their price objective on shares of Etsy from $65.00 to $60.00 and set an "equal weight" rating for the company in a research note on Friday, February 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Etsy from $63.00 to $54.00 and set a "hold" rating for the company in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Etsy currently has a consensus rating of "Hold" and a consensus target price of $60.40.
Get Our Latest Stock Report on ETSY
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Holocene Advisors LP raised its holdings in Etsy by 697.4% during the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer's stock worth $268,045,000 after purchasing an additional 4,673,615 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the specialty retailer's stock worth $227,785,000 after acquiring an additional 1,177,301 shares during the period. Lone Pine Capital LLC acquired a new stake in Etsy during the third quarter worth about $257,614,000. Van ECK Associates Corp raised its holdings in shares of Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the specialty retailer's stock valued at $207,022,000 after buying an additional 39,067 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Etsy by 62.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer's stock worth $185,197,000 after purchasing an additional 1,416,772 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.
Etsy Company Profile
(
Get Free Report)
Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy's revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.
Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.
Further Reading
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