Etsy, Inc. (NASDAQ:ETSY) Insider Sells $708,398.64 in Stock

Etsy, Inc. insider Goyal Kruti Patel sold 11,944 shares of stock for $708,398.64 on August 7th, reducing their ownership by 20.08%. Post-sale, Patel holds 47,529 shares valued at approximately $2.82 million. The transaction was disclosed to the SEC. Etsy's stock opened at $60.91, with a market cap of $6.04 billion and a P/E ratio of 49.12. Analysts forecast earnings per share of 2.57 for the current fiscal year, with a consensus rating of "Hold" and a price target of $57.20.

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) insider Goyal Kruti Patel sold 11,944 shares of Etsy stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $59.31, for a total transaction of $708,398.64. Following the sale, the insider directly owned 47,529 shares in the company, valued at $2,818,944.99. This trade represents a 20.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Etsy Trading Up 0.7%

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ETSY opened at $60.91 on Friday. The company's fifty day moving average price is $57.58 and its two-hundred day moving average price is $51.64. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $68.45. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 49.12, a PEG ratio of 3.84 and a beta of 1.73.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%. The business had revenue of $672.66 million for the quarter, compared to analyst estimates of $645.16 million. During the same quarter in the previous year, the company posted $0.41 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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Institutional investors have recently bought and sold shares of the business. True Wealth Design LLC raised its holdings in Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after buying an additional 292 shares during the last quarter. Signaturefd LLC grew its stake in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock worth $28,000 after acquiring an additional 192 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Etsy in the 4th quarter worth $34,000. SVB Wealth LLC bought a new stake in shares of Etsy in the 1st quarter worth $36,000. Finally, Allworth Financial LP grew its stake in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ETSY. Citizens Jmp raised shares of Etsy to a "hold" rating in a report on Thursday, July 10th. Cantor Fitzgerald lifted their price target on shares of Etsy from $52.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Sanford C. Bernstein boosted their target price on shares of Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. The Goldman Sachs Group reduced their target price on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Finally, Guggenheim boosted their target price on shares of Etsy from $50.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $57.20.

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About Etsy

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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.

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