Josh Silverman Sells 24,296 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 24,296 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $59.00, for a total value of $1,433,464.00. Following the transaction, the insider directly owned 130,694 shares in the company, valued at approximately $7,710,946. This represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 20th, Josh Silverman sold 30,369 shares of Etsy stock. The shares were sold at an average price of $64.00, for a total value of $1,943,616.00.
• On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The stock was sold at an average price of $54.00, for a total value of $655,992.00.
• On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The stock was sold at an average price of $49.07, for a total value of $298,051.18.
• On Monday, February 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $53.26, for a total value of $1,153,931.16.

Etsy Trading Up 3.8%

Shares of ETSY traded up $2.33 during trading hours on Monday, hitting $64.23. The company had a trading volume of 2,875,038 shares, compared to its average volume of 3,467,465. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 49.03, a P/E/G ratio of 4.04 and a beta of 1.77. The company’s 50 day moving average is $52.43. Etsy Inc has a 52-week low of $41.51 and a 52-week high of $76.51.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. The firm had revenue of $881.64 million for the quarter. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%. On average, equities research analysts forecast that Etsy Inc will post 3.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETSY has been the topic of several analyst reports. Jefferies Financial Group decreased their price objective on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, February 12th. Cantor Fitzgerald decreased their price objective on shares of Etsy from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. B. Riley Financial decreased their price objective on shares of Etsy from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Morgan Stanley decreased their price objective on shares of Etsy from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, February 20th. Finally, UBS Group decreased their price objective on shares of Etsy from $74.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. EFG International AG purchased a new position in Etsy during the 4th quarter valued at $33,000. Salomon & Ludwin LLC purchased a new position in Etsy during the 3rd quarter valued at $55,000. SJS Investment Consulting Inc. increased its position in Etsy by 12,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the company’s stock valued at $51,000 after purchasing an additional 756 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Etsy during the 3rd quarter valued at $51,000. Finally, Danske Bank A S purchased a new position in Etsy during the 3rd quarter valued at $66,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.