Insider Selling: Etsy (NYSE:ETSY) Insider Sells $3,093,719.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 39,161 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $79.00, for a total transaction of $3,093,719.00. Following the sale, the insider directly owned 139,884 shares of the company’s stock, valued at approximately $11,050,836. This trade represents a 21.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The stock was sold at an average price of $74.93, for a total transaction of $6,923,831.72.
• On Wednesday, June 24th, Josh Silverman sold 97,389 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total transaction of $7,693,731.00.
• On Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total transaction of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The shares were sold at an average price of $74.00, for a total transaction of $3,883,446.00.
• On Monday, June 1st, Josh Silverman sold 134,730 shares of Etsy stock. The shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70.
• On Friday, May 1st, Josh Silverman sold 88,350 shares of Etsy stock. The stock was sold at an average price of $64.18, for a total transaction of $5,670,303.00.
• On Wednesday, April 29th, Josh Silverman sold 36,443 shares of Etsy stock. The stock was sold at an average price of $69.00, for a total transaction of $2,514,567.00.
• On Tuesday, April 21st, Josh Silverman sold 70,000 shares of Etsy stock. The shares were sold at an average price of $65.00, for a total transaction of $4,550,000.00.
• 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 Thursday, April 16th, Josh Silverman sold 24,296 shares of Etsy stock. The stock was sold at an average price of $59.00, for a total value of $1,433,464.00.

Etsy Price Performance

Shares of ETSY stock traded up $2.75 during trading hours on Tuesday, hitting $83.28. The stock had a trading volume of 2,816,760 shares, compared to its average volume of 3,319,241. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 3.37 and a beta of 1.83. Etsy Inc has a one year low of $44.00 and a one year high of $83.36. The stock’s 50-day moving average price is $69.12 and its two-hundred day moving average price is $60.44.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Handelsbanken Fonder AB raised its holdings in shares of Etsy by 11.2% in the second quarter. Handelsbanken Fonder AB now owns 34,700 shares of the company’s stock worth $2,614,000 after buying an additional 3,500 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in Etsy during the 2nd quarter valued at $492,000. Assenagon Asset Management S.A. boosted its holdings in Etsy by 48.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock valued at $121,532,000 after acquiring an additional 523,092 shares during the period. GAMMA Investing LLC grew its position in Etsy by 24.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,800 shares of the company’s stock valued at $286,000 after acquiring an additional 750 shares during the last quarter. Finally, CoreCap Advisors LLC grew its position in Etsy by 2,379.1% in the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock valued at $80,000 after acquiring an additional 1,023 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ETSY. Bank of America lifted their price objective on Etsy from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Canaccord Genuity Group increased their target price on Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Arete Research set a $76.00 target price on shares of Etsy and gave the company a “buy” rating in a report on Wednesday, May 20th. Needham & Company LLC boosted their price target on shares of Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group raised shares of Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.80.

Etsy Company Profile

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.