Etsy (NYSE:ETSY) Insider Josh Silverman Sells 41,108 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 41,108 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $83.11, for a total value of $3,416,485.88. Following the completion of the sale, the insider owned 171,932 shares in the company, valued at $14,289,268.52. The trade was a 19.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total value of $3,093,719.00.
• On Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The stock was sold at an average price of $74.93, for a total value of $6,923,831.72.
• On Wednesday, June 24th, Josh Silverman sold 97,389 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total value of $7,693,731.00.
• On Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total value of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The shares were sold at an average price of $74.00, for a total value of $3,883,446.00.
• On Monday, June 1st, Josh Silverman sold 134,730 shares of Etsy stock. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70.

Etsy Price Performance

ETSY opened at $86.48 on Wednesday. The firm has a market cap of $8.21 billion, a PE ratio of 36.03, a P/E/G ratio of 3.26 and a beta of 1.84. The stock has a 50-day moving average price of $76.35 and a 200-day moving average price of $63.25. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.26.

Wall Street Analyst Weigh In

ETSY has been the topic of several analyst reports. The Goldman Sachs Group upgraded shares of Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price objective on shares of Etsy in a report on Monday, July 20th. Wedbush began coverage on Etsy in a research report on Thursday, July 16th. They issued a “neutral” rating and a $80.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on Etsy from $74.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group lifted their target price on Etsy from $62.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus target price of $75.36.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Etsy by 33.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock valued at $10,369,000 after buying an additional 47,105 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after buying an additional 1,112,520 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Etsy by 338.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock worth $5,738,000 after acquiring an additional 79,888 shares during the period. SG Americas Securities LLC grew its holdings in shares of Etsy by 717.7% in the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after acquiring an additional 1,314,071 shares during the period. Finally, Hussman Strategic Advisors Inc. increased its position in Etsy by 100.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock valued at $4,657,000 after acquiring an additional 42,000 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other 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.