Etsy (ETSY) Shares Gap Down After Insider Selling
Shares of Etsy Inc (NASDAQ:ETSY) gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $49.75, but opened at $48.72. Etsy shares last traded at $47.26, with a volume of 2715642 shares changing hands.
Specifically, Director Jonathan D. Klein sold 35,900 shares of Etsy stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $51.12, for a total value of $1,835,208.00. Following the completion of the transaction, the director now directly owns 165,165 shares of the company’s stock, valued at approximately $8,443,234.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.
A number of equities analysts have commented on the stock. DA Davidson lifted their price objective on shares of Etsy from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of Etsy from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, August 8th. Loop Capital lifted their price objective on shares of Etsy to $65.00 and gave the stock a “buy” rating in a research note on Friday, September 14th. BidaskClub cut shares of Etsy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Morgan Stanley raised shares of Etsy from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $36.00 to $48.00 in a research note on Wednesday, October 24th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.96.
Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Etsy had a net margin of 15.00% and a return on equity of 14.10%. The firm had revenue of $150.37 million during the quarter, compared to analysts’ expectations of $149.76 million. During the same period in the previous year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 41.4% compared to the same quarter last year. As a group, analysts predict that Etsy Inc will post 0.49 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its stake in shares of Etsy by 1.8% during the 3rd quarter. American International Group Inc. now owns 79,285 shares of the specialty retailer’s stock worth $4,074,000 after purchasing an additional 1,429 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Etsy by 3.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,160 shares of the specialty retailer’s stock worth $2,074,000 after purchasing an additional 1,530 shares during the period. PARK CIRCLE Co boosted its stake in shares of Etsy by 100.0% during the 2nd quarter. PARK CIRCLE Co now owns 4,000 shares of the specialty retailer’s stock worth $169,000 after purchasing an additional 2,000 shares during the period. Amalgamated Bank boosted its stake in shares of Etsy by 13.1% during the 2nd quarter. Amalgamated Bank now owns 18,250 shares of the specialty retailer’s stock worth $770,000 after purchasing an additional 2,115 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Etsy by 6.4% during the 3rd quarter. LPL Financial LLC now owns 37,844 shares of the specialty retailer’s stock worth $1,944,000 after purchasing an additional 2,261 shares during the period. 88.19% of the stock is owned by hedge funds and other institutional investors.
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Etsy Company Profile (NASDAQ:ETSY)
Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.
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