Etsy, Inc. (NASDAQ:ETSY) Insider Nicholas Daniel Sells 750 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) insider Nicholas Daniel sold 750 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Nicholas Daniel also recently made the following trade(s):

• On Thursday, August 1st, Nicholas Daniel sold 750 shares of Etsy stock. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00.

Etsy Stock Performance

Shares of ETSY opened at $55.57 on Friday. The firm has a fifty day simple moving average of $57.68 and a two-hundred day simple moving average of $62.99. The firm has a market cap of $6.50 billion, a PE ratio of 25.37, a P/E/G ratio of 5.44 and a beta of 2.02. Etsy, Inc. has a 1-year low of $51.45 and a 1-year high of $89.58.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. As a group, research analysts forecast that Etsy, Inc. will post 2.37 EPS for the current fiscal year.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Etsy during the 4th quarter valued at $86,494,000. Marshall Wace LLP lifted its position in Etsy by 304.2% during the second quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after purchasing an additional 1,055,296 shares in the last quarter. TD Asset Management Inc grew its holdings in Etsy by 260.2% during the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after purchasing an additional 952,907 shares during the period. Renaissance Technologies LLC increased its position in Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after buying an additional 734,200 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after buying an additional 721,454 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cantor Fitzgerald started coverage on shares of Etsy in a research note on Thursday. They set a “neutral” rating and a $50.00 price objective on the stock. Wolfe Research assumed coverage on Etsy in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Wells Fargo & Company reduced their price objective on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, June 25th. Piper Sandler reissued a “neutral” rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Finally, Loop Capital reduced their price target on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $70.61.

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.