Insider Selling: Etsy, Inc. (NASDAQ:ETSY) CTO Sells $15,040.00 in Stock

Etsy, Inc. (NASDAQ:ETSY) CTO Rachana Kumar sold 250 shares of Etsy stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $60.16, for a total value of $15,040.00. Following the sale, the chief technology officer now directly owns 21,689 shares of the company’s stock, valued at approximately $1,304,810.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rachana Kumar also recently made the following trade(s):

• On Friday, July 12th, Rachana Kumar sold 250 shares of Etsy stock. The stock was sold at an average price of $60.00, for a total transaction of $15,000.00.

Etsy Stock Performance

NASDAQ:ETSY opened at $53.36 on Thursday. Etsy, Inc. has a 52 week low of $53.28 and a 52 week high of $89.58. The firm’s fifty day moving average is $60.67 and its 200-day moving average is $65.65. The firm has a market cap of $6.24 billion, a P/E ratio of 24.37, a P/E/G ratio of 5.02 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently modified their holdings of ETSY. American Century Companies Inc. lifted its position in shares of Etsy by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 12,519 shares of the specialty retailer’s stock valued at $738,000 after acquiring an additional 367 shares during the period. Headlands Technologies LLC increased its stake in Etsy by 371.2% in the second quarter. Headlands Technologies LLC now owns 4,057 shares of the specialty retailer’s stock valued at $239,000 after purchasing an additional 3,196 shares in the last quarter. Andra AP fonden acquired a new position in shares of Etsy during the second quarter valued at about $590,000. Acadian Asset Management LLC boosted its position in shares of Etsy by 681.1% during the 2nd quarter. Acadian Asset Management LLC now owns 217,755 shares of the specialty retailer’s stock worth $12,836,000 after purchasing an additional 189,876 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new stake in shares of Etsy in the 2nd quarter valued at about $204,000. 99.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ETSY. Evercore ISI upgraded Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. JMP Securities cut Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Loop Capital cut shares of Etsy from a “hold” rating to a “sell” rating and cut their price objective for the stock from $70.00 to $50.00 in a research report on Thursday, May 2nd. B. Riley dropped their target price on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Truist Financial reduced their price target on shares of Etsy from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Etsy presently has an average rating of “Hold” and an average price target of $73.91.

About Etsy

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.