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

Etsy, Inc. (NASDAQ:ETSY - Get Free Report)'s stock price dropped 6.5% during mid-day 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. Approximately 1,405,340 shares traded hands during trading, a decline of 60% from the average daily 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 value of $75,720.00. Following the sale, the insider now directly owns 20,698 shares in the company, valued at approximately $1,044,835.04. The trade was a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised Etsy from an "underperform" rating to a "hold" rating and raised their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft lowered Etsy to a "hold" rating and reduced their target price for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. UBS Group decreased their price objective on shares of Etsy from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. Finally, JMP Securities restated a "market perform" rating on shares of Etsy in a research report on Monday, December 16th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Etsy currently has an average rating of "Hold" and an average price target of $58.78.

Etsy Trading Up 4.0 %

The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. The firm's fifty day simple moving average is $53.17 and its two-hundred day simple moving average is $53.53.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million during the quarter, compared to analysts' expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 EPS. As a group, analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DJE Kapital AG acquired a new stake in shares of Etsy during the 4th quarter worth about $983,000. Meritage Portfolio Management raised its stake in Etsy by 152.4% during the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer's stock worth $14,698,000 after acquiring an additional 159,820 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Etsy by 183.9% in the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer's stock valued at $331,067,000 after acquiring an additional 3,861,668 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after purchasing an additional 411,165 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Etsy by 258.5% during the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer's stock worth $6,576,000 after purchasing an additional 85,396 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Company Profile

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.