Etsy (NASDAQ:ETSY) Stock Price Down 4.3% After Insider Selling

Shares of Etsy, Inc. (NASDAQ:ETSY) fell 4.3% on Thursday following insider selling activity. The company traded as low as $51.02 and last traded at $51.5240. 1,006,683 shares changed hands during trading, a decline of 80% from the average session volume of 4,953,364 shares. The stock had previously closed at $53.83.

Specifically, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $54.67, for a total transaction of $1,184,480.22. Following the completion of the transaction, the chief executive officer owned 78,946 shares of the company’s stock, valued at $4,315,977.82. This represents a 21.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ETSY shares. BNP Paribas initiated coverage on Etsy in a research report on Monday, November 24th. They issued a “neutral” rating on the stock. Piper Sandler reaffirmed a “neutral” rating on shares of Etsy in a report on Wednesday, October 29th. Guggenheim reissued a “buy” rating and issued a $70.00 target price on shares of Etsy in a report on Thursday, September 18th. UBS Group boosted their price target on shares of Etsy from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, The Goldman Sachs Group increased their price objective on shares of Etsy from $48.00 to $57.00 and gave the company a “sell” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.38.

Etsy Stock Up 2.1%

The firm’s 50 day simple moving average is $63.42 and its 200 day simple moving average is $59.73. The company has a market capitalization of $5.26 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 10.65 and a beta of 1.76.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $678.03 million for the quarter, compared to the consensus estimate of $655.83 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Institutional Trading of Etsy

Institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Advisors grew its stake in shares of Etsy by 476.5% during the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 405 shares during the last quarter. Signaturefd LLC boosted its holdings in Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 192 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Etsy in the 2nd quarter valued at $35,000. SVB Wealth LLC purchased a new stake in Etsy in the first quarter worth $36,000. Finally, Salomon & Ludwin LLC purchased a new stake in Etsy in the third quarter worth $55,000. Institutional investors 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.