Etsy (NASDAQ:ETSY) CEO Sells $1,331,592.36 in Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $61.46, for a total transaction of $1,331,592.36. Following the completion of the transaction, the chief executive officer directly owned 78,946 shares of the company’s stock, valued at approximately $4,852,021.16. This trade represents a 21.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, October 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $70.19, for a total transaction of $1,520,736.54.
• On Monday, September 29th, Josh Silverman sold 150,000 shares of Etsy stock. The shares were sold at an average price of $72.50, for a total transaction of $10,875,000.00.
• On Thursday, September 18th, 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, September 8th, Josh Silverman sold 65,000 shares of Etsy stock. The shares were sold at an average price of $57.50, for a total transaction of $3,737,500.00.
• On Tuesday, September 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $51.61, for a total transaction of $1,118,182.26.

Etsy Trading Down 4.3%

Shares of ETSY traded down $2.62 during midday trading on Tuesday, reaching $58.46. The stock had a trading volume of 3,949,492 shares, compared to its average volume of 5,081,328. The firm has a market cap of $5.77 billion, a PE ratio of 47.15, a P/E/G ratio of 10.65 and a beta of 1.85. The firm has a 50 day simple moving average of $64.47 and a 200-day simple moving average of $58.21. Etsy, Inc. has a one year low of $40.05 and a one year high of $76.51.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. Etsy’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Heritage Wealth Advisors increased its position in Etsy by 476.5% in the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 405 shares during the period. Signaturefd LLC boosted its stake in shares of Etsy by 52.7% in the 2nd 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. Allworth Financial LP boosted its stake in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 248 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Etsy in the 2nd quarter valued at $35,000. Finally, SVB Wealth LLC bought a new stake in shares of Etsy in the 1st quarter valued at $36,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETSY has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Etsy from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Arete upgraded shares of Etsy from a “sell” rating to a “neutral” rating and set a $54.00 price objective for the company in a research note on Thursday, August 7th. Barclays lifted their price objective 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. Weiss Ratings upgraded shares of Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Etsy from $48.00 to $57.00 and gave the stock a “sell” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Etsy has an average rating of “Hold” and an average target price of $64.24.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.