Etsy (NYSE:ETSY) Insider Josh Silverman Sells 383 Shares of Company Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 383 shares of the firm’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $74.00, for a total value of $28,342.00. Following the completion of the sale, the insider owned 262,234 shares in the company, valued at approximately $19,405,316. This represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Thursday, October 1st, Josh Silverman sold 2,090 shares of Etsy stock. The stock was sold at an average price of $72.45, for a total value of $151,420.50.
• On Tuesday, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The shares were sold at an average price of $81.85, for a total value of $957,317.60.
• On Thursday, September 3rd, Josh Silverman sold 1,671 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total value of $140,364.00.
• 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 shares were sold at an average price of $83.11, for a total value of $3,416,485.88.

Etsy Stock Up 2.2%

Etsy stock traded up $1.65 during mid-day trading on Friday, hitting $76.79. The company had a trading volume of 2,974,803 shares, compared to its average volume of 3,239,992. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97. The business has a fifty day moving average of $77.30 and a 200 day moving average of $70.74. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 1.78 and a beta of 1.86.

Etsy (NYSE:ETSY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate 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 negative return on equity of 34.18% and a net margin of 7.32%.The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. Equities analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ETSY shares. Wells Fargo & Company lifted their target price on Etsy from $61.00 to $76.00 and gave the stock an “underweight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. upgraded Etsy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $100.00 in a research note on Friday, August 7th. Arete Research set a $81.00 price target on Etsy and gave the stock a “neutral” rating in a research report on Thursday, September 24th. Guggenheim boosted their price objective on Etsy from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Raymond James Financial increased their price objective on Etsy from $75.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.21.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently added to or reduced their stakes in ETSY. Renaissance Technologies LLC grew its stake in shares of Etsy by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after purchasing an additional 594,768 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after purchasing an additional 39,067 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after buying an additional 1,112,520 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Etsy by 48.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock valued at $121,532,000 after buying an additional 523,092 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in Etsy in the 2nd quarter valued at $120,417,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.