Etsy (NASDAQ:ETSY) Insider Josh Silverman Sells 86,666 Shares

Etsy, Inc. (NASDAQ:ETSY) insider Josh Silverman sold 86,666 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $57.46, for a total value of $4,979,828.36. Following the completion of the sale, the insider owned 90,661 shares in the company, valued at $5,209,381.06. This trade represents a 48.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, December 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $54.67, for a total transaction of $1,184,480.22.
• On Monday, November 3rd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $61.46, for a total transaction of $1,331,592.36.

Etsy Stock Up 2.2%

Shares of Etsy stock opened at $58.54 on Tuesday. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.51. The stock has a market capitalization of $5.78 billion, a P/E ratio of 47.21, a price-to-earnings-growth ratio of 10.65 and a beta of 1.74. The company has a 50-day simple moving average of $56.45 and a 200 day simple moving average of $59.73.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, beating 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%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. On average, equities analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Etsy announced that its board has approved a share buyback program on Thursday, December 18th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 14.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its stake in Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the specialty retailer’s stock valued at $88,000 after acquiring an additional 158 shares during the last quarter. Alamea Verwaltungs GmbH boosted its position in shares of Etsy by 2.3% in the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the specialty retailer’s stock worth $370,000 after purchasing an additional 169 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Etsy by 0.6% during the second quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the specialty retailer’s stock worth $1,440,000 after purchasing an additional 172 shares during the period. Blue Trust Inc. grew its stake in shares of Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 181 shares during the period. Finally, Signaturefd LLC increased its holdings in Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 192 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

ETSY has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price objective on Etsy from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wells Fargo & Company cut their price target on Etsy from $58.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. BNP Paribas Exane began coverage on shares of Etsy in a report on Monday, November 24th. They set a “neutral” rating on the stock. Needham & Company LLC raised their price objective on shares of Etsy from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Barclays boosted their target price on shares of Etsy from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $64.24.

Etsy Company Profile

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.