Insider Selling: Etsy, Inc. (NASDAQ:ETSY) CEO Sells $1,127,715.30 in Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $51.19 on Friday. The company’s 50 day simple moving average is $53.89 and its 200 day simple moving average is $53.73. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $73.48.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same period last year, the firm posted $0.62 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Institutional Trading of Etsy

Hedge funds have recently added to or reduced their stakes in the stock. Meritage Portfolio Management boosted its position in Etsy by 152.4% in the third quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock valued at $14,698,000 after buying an additional 159,820 shares in the last quarter. Pacer Advisors Inc. boosted its position in Etsy by 183.9% in the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after buying an additional 3,861,668 shares in the last quarter. Principal Financial Group Inc. boosted its position in Etsy by 313.1% in the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after buying an additional 411,165 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after buying an additional 85,396 shares in the last quarter. Finally, American Capital Advisory LLC boosted its position in Etsy by 1,204,900.0% in the fourth quarter. American Capital Advisory LLC now owns 12,050 shares of the specialty retailer’s stock valued at $637,000 after buying an additional 12,049 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Canaccord Genuity Group lowered their target price on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald cut their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus cut their target price on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, February 20th. Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and raised their target price for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $58.78.

Etsy Company Profile

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.