Etsy (NASDAQ:ETSY) Sets New 1-Year Low Following Insider Selling

Etsy, Inc. (NASDAQ:ETSYGet Rating) shares hit a new 52-week low during trading on Monday after an insider sold shares in the company. The stock traded as low as $108.11 and last traded at $108.90, with a volume of 12410 shares changing hands. The stock had previously closed at $115.79.

Specifically, CAO Merilee Buckley sold 655 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $132.54, for a total value of $86,813.70. Following the transaction, the chief accounting officer now directly owns 171 shares in the company, valued at $22,664.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 38,300 shares of Etsy stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $158.19, for a total value of $6,058,677.00. The disclosure for this sale can be found here. Insiders have sold 109,975 shares of company stock valued at $16,251,348 in the last three months. 3.30% of the stock is owned by insiders.

ETSY has been the subject of several recent analyst reports. UBS Group upgraded Etsy from a “sell” rating to a “neutral” rating and dropped their target price for the company from $215.00 to $180.00 in a research report on Wednesday, February 2nd. Truist Financial lowered their target price on Etsy from $274.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, February 10th. Jefferies Financial Group reduced their price target on Etsy from $275.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, January 20th. They noted that the move was a valuation call. StockNews.com downgraded Etsy from a “hold” rating to a “sell” rating in a research report on Thursday, April 7th. Finally, Morgan Stanley cut their target price on Etsy from $179.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy presently has an average rating of “Buy” and an average price target of $212.37.

The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 3.80. The firm has a market cap of $13.91 billion, a PE ratio of 33.96, a P/E/G ratio of 1.40 and a beta of 1.64. The firm’s 50 day moving average is $135.35 and its 200-day moving average is $189.80.

Etsy (NASDAQ:ETSYGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The specialty retailer reported $1.11 EPS for the quarter, topping the consensus estimate of $0.76 by $0.35. Etsy had a net margin of 21.19% and a return on equity of 83.06%. The firm had revenue of $717.14 million during the quarter, compared to analyst estimates of $685.45 million. During the same quarter in the prior year, the business posted $1.08 earnings per share. Etsy’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, analysts forecast that Etsy, Inc. will post 3.29 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Cetera Advisor Networks LLC lifted its position in shares of Etsy by 1.2% in the 3rd quarter. Cetera Advisor Networks LLC now owns 3,288 shares of the specialty retailer’s stock worth $684,000 after buying an additional 38 shares during the last quarter. First Foundation Advisors increased its stake in Etsy by 3.4% during the 3rd quarter. First Foundation Advisors now owns 1,263 shares of the specialty retailer’s stock valued at $263,000 after buying an additional 41 shares during the period. Meeder Asset Management Inc. increased its stake in Etsy by 8.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 525 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 43 shares during the period. Lindbrook Capital LLC grew its stake in shares of Etsy by 32.4% in the 3rd quarter. Lindbrook Capital LLC now owns 188 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 46 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Etsy by 4.9% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,062 shares of the specialty retailer’s stock worth $217,000 after purchasing an additional 50 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

About Etsy (NASDAQ:ETSY)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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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