Key Points
- Insider sale: Josh Silverman sold 6,074 shares on April 1 at an average price of $49.07 for a total of $298,051.18 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 4.44% to 130,694 shares (~$6.41M).
- $750 million buyback: Etsy's board authorized a $750 million repurchase program allowing the company to buy back up to 14.2% of outstanding shares, signaling the board views the stock as potentially undervalued.
- Recent results and outlook: Etsy posted quarterly EPS of $0.92 (vs. $0.88 est.) on $881.64M revenue, with a 5.65% net margin but negative ROE of 24.94%; the stock has a market cap near $4.97B and an average analyst rating of "Hold" with a $60.80 target.
Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 6,074 shares of Etsy stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $49.07, for a total value of $298,051.18. Following the sale, the insider owned 130,694 shares in the company, valued at $6,413,154.58. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Josh Silverman also recently made the following trade(s):
- On Monday, February 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $53.26, for a total transaction of $1,153,931.16.
Etsy Stock Performance
Shares of ETSY opened at $51.60 on Friday. The company has a fifty day moving average price of $52.35. Etsy Inc has a 1 year low of $40.05 and a 1 year high of $76.51. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 3.30 and a beta of 1.77.
Etsy (NYSE:ETSY - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The company had revenue of $881.64 million for the quarter.
Etsy announced that its board has initiated a stock buyback program on Thursday, December 18th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 14.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Institutional Trading of Etsy
Large investors have recently bought and sold shares of the company. Public Sector Pension Investment Board increased its stake in shares of Etsy by 21.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 430,824 shares of the company's stock worth $28,602,000 after acquiring an additional 75,295 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Etsy by 1,648.1% during the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company's stock worth $46,916,000 after acquiring an additional 666,253 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in Etsy in the third quarter worth about $1,889,000. Lone Pine Capital LLC purchased a new stake in Etsy in the third quarter worth about $257,614,000. Finally, Picton Mahoney Asset Management increased its stake in shares of Etsy by 30.5% during the third quarter. Picton Mahoney Asset Management now owns 95,008 shares of the company's stock valued at $6,307,000 after purchasing an additional 22,229 shares in the last quarter. 99.53% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Zacks Research upgraded Etsy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. Wall Street Zen cut shares of Etsy from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Jefferies Financial Group dropped their target price on shares of Etsy from $62.00 to $55.00 and set a "hold" rating for the company in a research report on Thursday, February 12th. BTIG Research cut their price target on shares of Etsy from $74.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 19th. Finally, UBS Group decreased their price target on shares of Etsy from $74.00 to $53.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $60.80.
Read Our Latest Report on Etsy
Etsy Company Profile
(
Get Free Report)
Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.
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