Merilee Buckley Sells 1,676 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Etsy Stock Performance

ETSY opened at $52.80 on Friday. The stock’s fifty day moving average is $55.19 and its 200-day moving average is $60.57. Etsy, Inc. has a one year low of $50.54 and a one year high of $89.58. The company has a market capitalization of $6.17 billion, a PE ratio of 24.06, a P/E/G ratio of 5.39 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same period in the previous year, the company posted $0.83 earnings per share. Etsy’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ETSY. Wells Fargo & Company dropped their target price on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a report on Thursday. Stifel Nicolaus cut their target price on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Wolfe Research assumed coverage on Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Loop Capital cut their price target on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a report on Monday, August 12th. Finally, Truist Financial restated a “buy” rating and set a $76.00 price objective on shares of Etsy in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $70.22.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MCF Advisors LLC grew its holdings in shares of Etsy by 23,542.9% in the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock worth $227,000 after acquiring an additional 3,296 shares during the last quarter. TD Asset Management Inc raised its holdings in Etsy by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after buying an additional 221,275 shares during the period. Diversified Trust Co lifted its stake in Etsy by 11.5% during the second quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock valued at $381,000 after buying an additional 668 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Etsy by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after buying an additional 16,458 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Etsy by 184.3% in the first quarter. SG Americas Securities LLC now owns 56,107 shares of the specialty retailer’s stock worth $3,856,000 after buying an additional 36,372 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.