Etsy, Inc. (NASDAQ:ETSY) Insider Sells $83,010.00 in Stock

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Etsy Price Performance

Shares of ETSY opened at $55.26 on Thursday. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 2.69 and a beta of 2.00. The business’s 50-day moving average is $55.19 and its 200-day moving average is $54.32. Etsy, Inc. has a fifty-two week low of $47.10 and a fifty-two week high of $80.30.

Etsy announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Etsy

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares in the last quarter. Denver PWM LLC boosted its stake in shares of Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 289 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares during the last quarter. Gagnon Securities LLC raised its stake in shares of Etsy by 7.9% in the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after acquiring an additional 376 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Etsy by 11.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock valued at $239,000 after purchasing an additional 448 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ETSY. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and raised their price target for the company from $45.00 to $55.00 in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, October 31st. UBS Group reduced their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Raymond James cut their target price on Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.42.

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.