Insider Selling: Etsy (NYSE:ETSY) Insider Sells $140,364.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 1,671 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $84.00, for a total value of $140,364.00. Following the transaction, the insider directly owned 249,559 shares in the company, valued at $20,962,956. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a 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 Tuesday, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The stock was sold at an average price of $81.85, for a total value of $957,317.60.
• On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total value of $528,696.00.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The stock was sold at an average price of $83.11, for a total value of $3,416,485.88.
• 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 transaction of $3,093,719.00.
• On Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The shares were sold at an average price of $74.93, for a total transaction 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 transaction 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 transaction 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 transaction of $3,883,446.00.

Etsy Trading Down 6.9%

NYSE ETSY opened at $76.39 on Friday. The company has a fifty day simple moving average of $81.28 and a two-hundred day simple moving average of $67.31. The stock has a market cap of $7.25 billion, a P/E ratio of 42.68, a P/E/G ratio of 1.91 and a beta of 1.81. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.97.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The company had revenue of $668.31 million for the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. Etsy’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts forecast that Etsy Inc will post 3.94 earnings per share for the current year.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its holdings in Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after acquiring an additional 158 shares during the period. Alamea Verwaltungs GmbH increased its holdings in shares of Etsy by 2.3% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after purchasing an additional 169 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Etsy by 2.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after purchasing an additional 180 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Etsy by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock valued at $1,250,000 after purchasing an additional 224 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Arete Research set a $76.00 price objective on Etsy and gave the company a “buy” rating in a report on Wednesday, May 20th. Rosenblatt Securities started coverage on Etsy in a report on Thursday, August 20th. They set a “buy” rating and a $95.00 target price for the company. Barclays upped their target price on Etsy from $82.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Seaport Research Partners upgraded shares of Etsy to a “buy” rating in a report on Thursday, August 20th. Finally, Susquehanna lowered shares of Etsy to a “neutral” rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.68.

Key Headlines Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analyst support and upcoming conference: Etsy has a “Moderate Buy” consensus rating and an average price target of $84.68, while Morgan Stanley recently upgraded the stock to “outperform.” Management will also participate in the Goldman Sachs Communacopia and Technology Conference on September 9, giving investors an opportunity to hear updates on marketplace trends, growth initiatives and the outlook. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Post-earnings estimates are the next focus: About 30 days after its latest report, investors are watching whether earnings estimates can improve enough to support a rebound. Etsy exceeded revenue expectations with $668.31 million, compared with the $646.10 million consensus, but revenue declined 0.7% year over year and reported EPS of negative $0.49 missed the $0.75 estimate by a wide margin. Analysts currently expect approximately $3.94 in full-year EPS. Etsy Down Since Last Earnings Report
• Negative Sentiment: Insider selling may weigh on sentiment: Executives and directors disclosed sales totaling roughly 36,280 shares, including CEO Josh Silverman’s sales, director Frederick Wilson’s 20,000-share sale and Richard Colburn’s sale to cover tax withholding. Most transactions were made under pre-arranged Rule 10b5-1 plans, and the insiders retained sizable positions, reducing their value as a direct bearish signal; nevertheless, the cluster of sales creates near-term selling pressure and may raise investor concerns. Etsy Insider Selling Report

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.