Etsy (NASDAQ:ETSY) Shares Down 6.5% Following Insider Selling

Etsy, Inc. (NASDAQ:ETSY)’s stock price traded down 6.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $47.19 and last traded at $46.74. 1,405,340 shares were traded during mid-day trading, a decline of 60% from the average session volume of 3,529,790 shares. The stock had previously closed at $50.00.

Specifically, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the transaction, the insider now owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. The trade was a 6.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of analysts have recently issued reports on ETSY shares. Morgan Stanley lowered their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. UBS Group cut their price target on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and lifted their target price for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Etsy in a report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and decreased their price objective for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $58.78.

Etsy Trading Down 6.1 %

The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 2.57 and a beta of 2.00. The firm’s 50-day moving average is $53.43 and its 200 day moving average is $53.64.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period last year, the business posted $0.62 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. Analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently bought and sold shares of the stock. United Advisor Group LLC bought a new position in Etsy in the 3rd quarter valued at $220,000. Amalgamated Bank increased its position in shares of Etsy by 9.9% in the third quarter. Amalgamated Bank now owns 37,176 shares of the specialty retailer’s stock worth $2,064,000 after purchasing an additional 3,351 shares during the last quarter. Principal Financial Group Inc. grew its position in Etsy by 313.1% in the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after acquiring an additional 411,165 shares in the last quarter. Olympiad Research LP bought a new stake in Etsy in the 3rd quarter worth approximately $364,000. Finally, Capital Performance Advisors LLP purchased a new position in Etsy in the 3rd quarter worth $43,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.