Etsy (NYSE:ETSY) Insider Josh Silverman Sells 30,369 Shares of Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 30,369 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $64.00, for a total transaction of $1,943,616.00. Following the sale, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $8,364,416. This trade represents a 18.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, April 16th, Josh Silverman sold 24,296 shares of Etsy stock. The shares were sold at an average price of $59.00, for a total transaction of $1,433,464.00.
• 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 stock was 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 Trading Up 3.8%

ETSY opened at $64.23 on Tuesday. The firm has a fifty day moving average of $52.61. Etsy Inc has a 1-year low of $41.51 and a 1-year high of $76.51. The company has a market capitalization of $6.18 billion, a P/E ratio of 49.03, a P/E/G ratio of 4.04 and a beta of 1.77.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ETSY shares. Stifel Nicolaus reduced their price objective on Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Jefferies Financial Group lowered 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. Deutsche Bank Aktiengesellschaft cut their target price on Etsy from $63.00 to $54.00 and set a “hold” rating on the stock in a report on Tuesday, February 24th. Barclays upgraded shares of Etsy from an “equal weight” rating to an “overweight” rating and set a $72.00 price target for the company in a research note on Thursday, February 19th. Finally, Wall Street Zen upgraded shares of Etsy from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC grew its holdings in Etsy by 19.1% during the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after buying an additional 961 shares in the last quarter. Empowered Funds LLC boosted its holdings in Etsy by 55.5% during the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after acquiring an additional 3,451 shares during the last quarter. Woodline Partners LP purchased a new position in Etsy during the 1st quarter worth $2,181,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Etsy by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after acquiring an additional 906 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Etsy in the 2nd quarter worth $232,000. Institutional investors own 99.53% of the company’s stock.

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.