Etsy (NASDAQ:ETSY) Trading Down 4.3% Following Insider Selling

Etsy's stock fell 4.3% after CEO Josh Silverman sold 21,666 shares. The sale was at $54.67 per share, totaling $1.18 million. Analysts have mixed ratings, with a consensus "Hold" and an average price target of $64.38. Etsy's recent earnings beat estimates, reporting $0.63 EPS and $678.03 million revenue. Institutional investors have adjusted their stakes, with significant increases from Holocene Advisors LP and AQR Capital Management LLC.

Etsy, Inc. (NASDAQ:ETSY - Get Free Report)'s share price fell 4.3% during trading on Thursday following insider selling activity. The company traded as low as $51.02 and last traded at $51.5240. 1,006,683 shares traded 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.

3 Heavily Shorted Stocks That Could Pop on Rate Cuts

Specifically, CEO Josh Silverman sold 21,666 shares of Etsy 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 sale, the chief executive officer owned 78,946 shares of the company's stock, valued at approximately $4,315,977.82. The trade was a 21.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BNP Paribas Exane began coverage on Etsy in a report on Monday, November 24th. They set a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $72.00 price target on shares of Etsy in a research note on Thursday, October 23rd. UBS Group upped their price objective on Etsy from $67.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, October 20th. Jefferies Financial Group lifted their target price on Etsy from $65.00 to $70.00 and gave the stock a "hold" rating in a report on Friday, October 17th. Finally, Bank of America boosted their target price on shares of Etsy from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $64.38.

These 5 Beaten-Down Tech Stocks Could Catch Fire Next

View Our Latest Stock Report on ETSY

Etsy Stock Performance

The stock's 50 day moving average price is $63.87 and its 200 day moving average price is $59.74. The company has a market capitalization of $5.11 billion, a P/E ratio of 41.53, a price-to-earnings-growth ratio of 10.65 and a beta of 1.76.

3 Stocks Using Buybacks to Drive Sustainable Price Growth

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) 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 analyst estimates of $655.83 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. Etsy's revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Etsy

Several large investors have recently added to or reduced their stakes in the business. Holocene Advisors LP lifted its stake in Etsy by 697.4% in the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer's stock valued at $268,045,000 after buying an additional 4,673,615 shares during the period. AQR Capital Management LLC increased its stake in shares of Etsy by 423.7% in the 1st quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock valued at $218,890,000 after acquiring an additional 3,768,787 shares in the last quarter. Lone Pine Capital LLC bought a new stake in shares of Etsy in the 3rd quarter valued at $257,614,000. Van ECK Associates Corp lifted its position in shares of Etsy by 1.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,695,089 shares of the specialty retailer's stock valued at $245,317,000 after acquiring an additional 48,236 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Etsy by 62.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer's stock worth $185,197,000 after acquiring an additional 1,416,772 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Company Profile

(Get Free Report)

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.

Should You Invest $1,000 in Etsy Right Now?

Before you consider Etsy, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Etsy wasn't on the list.

While Etsy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here