Marla J. Blow, a director at Etsy Inc . (NASDAQ:ETSY), has recently sold shares in the company. According to a filing with the Securities and Exchange Commission, Blow sold a total of 450 shares on November 21, 2024. The transactions were executed at prices ranging from $51.32 to $52.00 per share, amounting to a total value of $23,239.
These sales were conducted under a pre-arranged 10b5-1 trading plan, which was adopted by Blow on August 22, 2024. Following the transactions, Blow retains ownership of 5,773 shares of Etsy common stock.
In other recent news, Etsy's earnings report revealed mixed results. The online marketplace's Gross Merchandise Sales (GMS) experienced a year-over-year decline of 4.1%, but the company's revenue of $662.4 million and Adjusted EBITDA of $183.6 million surpassed expectations. Acquisition Depop showed promising growth, and a new $1 billion share buyback program was announced. Analyst firms Goldman Sachs, Citi, BTIG, and Barclays (LON:BARC) have adjusted their price targets for Etsy, while maintaining a neutral to positive outlook on the stock. These are recent developments in Etsy's financial performance and strategic adjustments.
InvestingPro Insights
While Etsy Inc. (NASDAQ:ETSY) has seen recent insider selling, the company's financial metrics and market position offer a more nuanced picture. According to InvestingPro data, Etsy boasts a market capitalization of $5.86 billion and a P/E ratio of 23.82, suggesting investors are still willing to pay a premium for the company's earnings.
Etsy's financial health appears robust, with an impressive gross profit margin of 71.16% for the last twelve months as of Q3 2024. This aligns with one of the InvestingPro Tips, which highlights Etsy's "impressive gross profit margins." Additionally, the company's revenue growth of 3.14% over the same period indicates continued expansion, albeit at a moderate pace.
Another InvestingPro Tip notes that "management has been aggressively buying back shares," which could be interpreted as a sign of confidence in the company's value. This is particularly interesting in light of the recent insider selling activity.
It's worth noting that Etsy's stock price has experienced some volatility, with a year-to-date total return of -35.85% as of the latest data. However, the company's fair value, according to analyst targets, is estimated at $59 per share, suggesting potential upside from the current trading levels.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights with 10 more tips available for Etsy, providing a deeper understanding of the company's financial position and market prospects.
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