Key Points
- Etsy director Marla Blow sold 300 shares at an average price of $79.56, reducing her holdings by 2.25% to 13,024 shares. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Etsy shares opened at $80.70, with the stock up 0.9%; it has traded between $44.00 and $87.97 over the past year and carries a market capitalization of approximately $7.66 billion.
- The company’s latest quarter beat revenue expectations but missed sharply on earnings, reporting revenue of $668.31 million and EPS of negative $0.49. Analysts maintain a consensus “Hold” rating with an average price target of $82.73.
Etsy Inc (NYSE:ETSY - Get Free Report) Director Marla Blow sold 300 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $79.56, for a total transaction of $23,868.00. Following the completion of the transaction, the director owned 13,024 shares in the company, valued at $1,036,189.44. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Etsy Stock Up 0.9%
Shares of ETSY stock opened at $80.70 on Thursday. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97. The firm's 50 day moving average price is $79.30 and its two-hundred day moving average price is $64.88. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 45.08, a price-to-earnings-growth ratio of 5.48 and a beta of 1.84.
Etsy (NYSE:ETSY - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to analysts' expectations of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. On average, equities analysts forecast that Etsy Inc will post 3.94 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Etsy from a "buy" rating to a "hold" rating in a research report on Sunday, May 31st. Barclays upped their price target on Etsy from $82.00 to $94.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Piper Sandler increased their price objective on shares of Etsy from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Roth Capital began coverage on shares of Etsy in a research note on Thursday, May 21st. They set a "buy" rating on the stock. Finally, Morgan Stanley set a $73.00 target price on shares of Etsy in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $82.73.
Read Our Latest Stock Report on Etsy
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its position in shares of Etsy by 627.2% during the first quarter. Janus Henderson Group PLC now owns 279,407 shares of the company's stock worth $13,962,000 after purchasing an additional 240,986 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company's stock valued at $163,841,000 after buying an additional 1,112,520 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Etsy by 338.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company's stock valued at $5,738,000 after buying an additional 79,888 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Etsy by 717.7% during the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company's stock worth $74,829,000 after buying an additional 1,314,071 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its holdings in Etsy by 100.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company's stock worth $4,657,000 after buying an additional 42,000 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.
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.
Further Reading
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