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

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 24,296 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $59.00, for a total transaction of $1,433,464.00. Following the completion of the sale, the insider directly owned 130,694 shares of the company’s stock, valued at $7,710,946. This trade represents a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $64.00, for a total transaction of $1,943,616.00.
• On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The shares were sold at an average price of $54.00, for a total transaction of $655,992.00.
• On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The shares were sold at an average price of $49.07, for a total transaction 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 transaction of $1,153,931.16.

Etsy Price Performance

Shares of ETSY stock opened at $64.23 on Tuesday. Etsy Inc has a 12 month low of $41.51 and a 12 month high of $76.51. 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 business has a fifty day moving average price of $52.61.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $881.64 million during the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. Research analysts predict that Etsy Inc will post 3.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. B. Riley Financial lowered their price objective on Etsy from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Jefferies Financial Group cut their target price on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. Stifel Nicolaus reduced their target price on Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Citigroup restated a “buy” rating on shares of Etsy in a research note on Tuesday, December 30th. Finally, Truist Financial upped their price target on shares of Etsy from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.67.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently made changes to their positions in ETSY. AQR Capital Management LLC raised its position in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after acquiring an additional 1,177,301 shares in the last quarter. Lone Pine Capital LLC acquired a new position in Etsy in the third quarter worth $257,614,000. Van ECK Associates Corp increased its stake in Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after purchasing an additional 39,067 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Etsy by 3.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock valued at $89,338,000 after purchasing an additional 59,123 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Etsy by 717.7% during the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after purchasing an additional 1,314,071 shares during the period. 99.53% of the stock is currently owned by 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.