Etsy (NYSE:ETSY) Insider Josh Silverman Sells 1,189 Shares of Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 1,189 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $88.70, for a total value of $105,464.30. Following the completion of the sale, the insider owned 262,617 shares in the company, valued at $23,294,127.90. This represents a 0.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, November 2nd, Josh Silverman sold 41,500 shares of Etsy stock. The stock was sold at an average price of $92.13, for a total value of $3,823,395.00.
• On Thursday, October 15th, Josh Silverman sold 417 shares of Etsy stock. The shares were sold at an average price of $84.47, for a total value of $35,223.99.
• On Tuesday, October 13th, Josh Silverman sold 714 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total value of $56,406.00.
• On Thursday, October 8th, Josh Silverman sold 383 shares of Etsy stock. The shares were sold at an average price of $74.00, for a total value of $28,342.00.
• On Thursday, October 1st, Josh Silverman sold 2,090 shares of Etsy stock. The stock was sold at an average price of $72.45, for a total transaction of $151,420.50.
• On Tuesday, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The stock was sold at an average price of $81.85, for a total transaction of $957,317.60.
• On Thursday, September 3rd, Josh Silverman sold 1,671 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total transaction of $140,364.00.
• On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The shares were sold at an average price of $84.00, for a total transaction of $528,696.00.

Etsy Price Performance

Shares of NYSE ETSY traded up $3.56 during midday trading on Monday, hitting $92.52. The company’s stock had a trading volume of 5,002,804 shares, compared to its average volume of 3,275,248. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.75. The business’s fifty day simple moving average is $78.74 and its two-hundred day simple moving average is $68.21. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $95.49.

Etsy (NYSE:ETSY) last announced its earnings results on Wednesday, October 28th. The company reported $7.31 earnings per share for the quarter, topping the consensus estimate of $0.76 by $6.55. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The firm had revenue of $692.47 million for the quarter, compared to the consensus estimate of $669.04 million. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts anticipate that Etsy Inc will post 3.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $100.00 in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of Etsy in a research note on Wednesday, October 28th. Royal Bank Of Canada lowered Etsy to a “sector perform” rating in a report on Thursday, August 20th. Loop Capital set a $105.00 target price on Etsy in a research note on Thursday, August 20th. Finally, Guggenheim boosted their target price on Etsy from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.07.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new position in Etsy during the 2nd quarter worth approximately $120,417,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after purchasing an additional 1,112,520 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in shares of Etsy in the 2nd quarter valued at $66,170,000. Renaissance Technologies LLC raised its holdings in shares of Etsy by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after purchasing an additional 594,768 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Etsy during the 2nd quarter worth $42,781,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

About Etsy

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.