Key Points
- Josh Silverman sold 12,148 shares on April 6 at an average price of $54 for a $655,992 transaction under a pre‑arranged Rule 10b5‑1 plan, reducing his holding by 8.5% to 130,694 shares.
- Etsy authorized a $750 million share buyback (up to 14.2% of outstanding shares), reported quarterly revenue of $881.6M and EPS of $0.92 (beating estimates), and carries a consensus analyst rating of Hold with a $60.80 target.
Etsy Inc (NYSE:ETSY - Get Free Report) CAO Merilee Buckley sold 1,993 shares of Etsy stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $52.92, for a total transaction of $105,469.56. Following the completion of the transaction, the chief accounting officer directly owned 809 shares in the company, valued at $42,812.28. This represents a 71.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Etsy Price Performance
Shares of ETSY opened at $54.06 on Thursday. The stock has a 50 day simple moving average of $52.09. The firm has a market cap of $5.20 billion, a PE ratio of 41.27, a P/E/G ratio of 3.30 and a beta of 1.77. Etsy Inc has a 12-month low of $40.05 and a 12-month high of $76.51.
Etsy (NYSE:ETSY - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $881.64 million for the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%.
Etsy declared that its Board of Directors has initiated a stock buyback program on Thursday, December 18th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 14.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ETSY. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Etsy from $63.00 to $54.00 and set a "hold" rating on the stock in a research note on Tuesday, February 24th. Zacks Research upgraded shares of Etsy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. Jefferies Financial Group decreased their target price on shares of Etsy from $62.00 to $55.00 and set a "hold" rating for the company in a report on Thursday, February 12th. Canaccord Genuity Group decreased their target price on shares of Etsy from $80.00 to $72.00 and set a "buy" rating for the company in a report on Friday, February 20th. Finally, BTIG Research decreased their target price on shares of Etsy from $74.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 19th. Two equities research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.80.
Get Our Latest Research Report on ETSY
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Compound Planning Inc. boosted its holdings in shares of Etsy by 16.6% in the fourth quarter. Compound Planning Inc. now owns 4,000 shares of the company's stock worth $222,000 after buying an additional 570 shares during the period. Invesco Ltd. boosted its holdings in shares of Etsy by 26.8% in the fourth quarter. Invesco Ltd. now owns 361,193 shares of the company's stock worth $20,025,000 after buying an additional 76,379 shares during the period. Rare Wolf Capital LLC acquired a new stake in shares of Etsy during the fourth quarter worth approximately $1,247,000. Corient Private Wealth LLC boosted its holdings in shares of Etsy by 33.7% during the fourth quarter. Corient Private Wealth LLC now owns 23,023 shares of the company's stock worth $1,276,000 after purchasing an additional 5,797 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Etsy by 64.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 39,736 shares of the company's stock worth $2,203,000 after purchasing an additional 15,596 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.
Etsy Company Profile
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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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