Etsy (NYSE:ETSY) Stock: Insider Josh Silverman Sells 2,090 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 2,090 shares of Etsy stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $72.45, for a total transaction of $151,420.50. Following the completion of the sale, the insider directly owned 262,617 shares of the company’s stock, valued at approximately $19,026,601.65. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 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 value of $957,317.60.
• On Thursday, September 3rd, Josh Silverman sold 1,671 shares of Etsy stock. The shares were sold at an average price of $84.00, for a total value 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.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The stock was sold at an average price of $83.11, for a total transaction of $3,416,485.88.
• On Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total value of $3,093,719.00.

Etsy Stock Down 2.4%

ETSY traded down $1.73 during trading on Monday, hitting $71.04. 2,946,645 shares of the company traded hands, compared to its average volume of 3,249,205. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The stock’s fifty day moving average is $78.30 and its 200 day moving average is $70.22. The firm has a market cap of $6.74 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 1.82 and a beta of 1.86.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, equities research analysts forecast that Etsy Inc will post 3.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Etsy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in Etsy by 11.1% during the first 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 during the period. Van ECK Associates Corp boosted its stake in shares of Etsy by 1.1% in the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after buying an additional 39,067 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after acquiring an additional 1,112,520 shares during the period. Assenagon Asset Management S.A. boosted its position in Etsy by 48.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock worth $121,532,000 after purchasing an additional 523,092 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Etsy during the 2nd quarter valued at about $120,417,000. Institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ETSY. UBS Group upped their price objective on shares of Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Barclays increased their price target on shares of Etsy from $82.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings downgraded shares of Etsy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Needham & Company LLC upped their target price on shares of Etsy from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group increased their target price on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Etsy presently has a consensus rating of “Moderate Buy” and an average price target of $86.21.

Etsy Company Profile

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.