Key Points
- Etsy CFO Charles Baker sold 1,407 shares for about $128,628 at an average price of $91.42, reducing his holdings by 8.1% to 15,958 shares. The sale was made under a pre-arranged Rule 10b5-1 plan.
- Etsy reported quarterly revenue of $692.47 million, up 10.9% year over year and above analyst estimates; reported EPS of $7.31 also exceeded the $0.76 consensus estimate.
- Analysts’ average rating was “Hold,” with an average price target of $94.07. The stock recently traded near $91 and had a 52-week range of $44.00 to $97.85.
Etsy Inc (NYSE:ETSY - Get Free Report) CFO Charles Baker sold 1,407 shares of Etsy stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $91.42, for a total value of $128,627.94. Following the sale, the chief financial officer owned 15,958 shares of the company's stock, valued at approximately $1,458,880.36. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Etsy Stock Performance
NYSE:ETSY opened at $91.31 on Friday. The stock's 50 day moving average price is $79.47 and its 200 day moving average price is $68.82. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $97.85. The company has a market capitalization of $7.87 billion, a P/E ratio of 10.78, a P/E/G ratio of 2.04 and a beta of 1.76.
Etsy (NYSE:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $7.31 earnings per share for the quarter, beating the consensus estimate of $0.76 by $6.55. The firm had revenue of $692.47 million for the quarter, compared to analyst estimates of $669.04 million. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The company's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. As a group, sell-side analysts forecast that Etsy Inc will post 4.31 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in Etsy by 11.1% during the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company's stock valued at $297,991,000 after acquiring an additional 594,768 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of 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 purchasing an additional 1,112,520 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Etsy by 48.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company's stock worth $121,532,000 after purchasing an additional 523,092 shares during the period. William Blair Investment Management LLC bought a new position in shares of Etsy in the second quarter worth about $120,417,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Etsy by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company's stock worth $78,642,000 after purchasing an additional 100,542 shares during the last quarter. Institutional investors own 99.53% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on ETSY. Seaport Research Partners raised shares of Etsy to a "buy" rating in a research note on Thursday, August 20th. Jefferies Financial Group raised their target price on Etsy from $90.00 to $100.00 and gave the company a "hold" rating in a report on Wednesday, October 28th. Piper Sandler boosted their price target on Etsy from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Wedbush upped their price target on Etsy from $88.00 to $99.00 and gave the stock a "neutral" rating in a research note on Thursday, October 29th. Finally, Sanford C. Bernstein raised Etsy from a "hold" rating to a "strong-buy" rating in a report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Etsy has an average rating of "Hold" and an average price target of $94.07.
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About Etsy
(
Get Free Report)
Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.
The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.
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