Insider Selling: Etsy, Inc. (NASDAQ:ETSY) CAO Sells 1,676 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) CAO Merilee Buckley sold 1,676 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Etsy Stock Down 8.2 %

Shares of NASDAQ ETSY traded down $3.99 during trading on Friday, reaching $44.42. The company had a trading volume of 7,964,597 shares, compared to its average volume of 3,762,340. Etsy, Inc. has a 12-month low of $43.43 and a 12-month high of $71.72. The business's 50-day moving average is $50.45 and its 200 day moving average is $52.43. The stock has a market cap of $4.76 billion, a PE ratio of 18.74, a P/E/G ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its 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 business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. On average, analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

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Analyst Ratings Changes

Several equities analysts recently commented on ETSY shares. Cantor Fitzgerald reduced their price target on Etsy from $46.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Morgan Stanley lowered their target price on shares of Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a research note on Thursday, February 20th. Truist Financial cut their price objective on shares of Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Citigroup lowered their target price on shares of Etsy from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Finally, Wells Fargo & Company cut their price objective on Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $58.38.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in Etsy by 1,066.3% during the first quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock valued at $454,000 after purchasing an additional 8,797 shares in the last quarter. Kera Capital Partners Inc. bought a new position in shares of Etsy in the first quarter worth approximately $231,000. 111 Capital purchased a new stake in shares of Etsy in the fourth quarter worth $310,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Etsy by 125.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the specialty retailer's stock valued at $923,000 after purchasing an additional 9,718 shares during the period. Finally, Brooklyn FI LLC purchased a new position in shares of Etsy during the 4th quarter valued at $5,229,000. Hedge funds and other institutional investors 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.