Insider Selling: Etsy (NASDAQ:ETSY) CEO Sells $1,331,592.36 in Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $61.46, for a total value of $1,331,592.36. Following the completion of the sale, the chief executive officer directly owned 78,946 shares in the company, valued at approximately $4,852,021.16. The trade was a 21.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Josh Silverman also recently made the following trade(s):

• On Wednesday, October 1st, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $70.19, for a total value of $1,520,736.54.
• On Monday, September 29th, Josh Silverman sold 150,000 shares of Etsy stock. The shares were sold at an average price of $72.50, for a total value of $10,875,000.00.
• On Thursday, September 18th, Josh Silverman sold 70,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total value of $4,550,000.00.
• On Monday, September 8th, Josh Silverman sold 65,000 shares of Etsy stock. The shares were sold at an average price of $57.50, for a total transaction of $3,737,500.00.
• On Tuesday, September 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $51.61, for a total transaction of $1,118,182.26.

Etsy Price Performance

NASDAQ:ETSY opened at $56.74 on Friday. The firm has a market cap of $5.60 billion, a PE ratio of 45.76, a P/E/G ratio of 10.65 and a beta of 1.87. The firm has a 50 day simple moving average of $64.69 and a 200-day simple moving average of $58.31. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $76.51.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $678.03 million for the quarter, compared to analyst estimates of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. Etsy’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. As a group, sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Heritage Wealth Advisors increased its position in shares of Etsy by 476.5% in the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 405 shares in the last quarter. Signaturefd LLC boosted its position in Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares during the period. Allworth Financial LP boosted its position in Etsy by 47.6% during the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 248 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Etsy in the 2nd quarter valued at $35,000. Finally, SVB Wealth LLC purchased a new position in Etsy in the first quarter valued at about $36,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Etsy in a report on Thursday, September 18th. Sanford C. Bernstein increased their price objective on shares of Etsy from $45.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. Piper Sandler reissued a “neutral” rating on shares of Etsy in a research report on Wednesday, October 29th. Finally, Citizens Jmp upgraded shares of Etsy to a “hold” rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.24.

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.