Etsy Inc (NYSE:ETSY – Get Free Report) insider Josh Silverman sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $72.50, for a total transaction of $3,625,000.00. Following the completion of the transaction, the insider owned 130,694 shares of the company’s stock, valued at approximately $9,475,315. The trade was a 27.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Josh Silverman also recently made the following trade(s):
- 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.
- On Monday, June 1st, Josh Silverman sold 134,730 shares of Etsy stock. The shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70.
- On Friday, May 1st, Josh Silverman sold 88,350 shares of Etsy stock. The stock was sold at an average price of $64.18, for a total transaction of $5,670,303.00.
- On Wednesday, April 29th, Josh Silverman sold 36,443 shares of Etsy stock. The stock was sold at an average price of $69.00, for a total transaction of $2,514,567.00.
- On Tuesday, April 21st, 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, April 20th, Josh Silverman sold 30,369 shares of Etsy stock. The shares were sold at an average price of $64.00, for a total transaction of $1,943,616.00.
- 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 value of $1,433,464.00.
- On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The stock was sold at an average price of $54.00, for a total value of $655,992.00.
- On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The shares were sold at an average price of $49.07, for a total value of $298,051.18.
Etsy Trading Up 1.6%
NYSE:ETSY opened at $74.03 on Friday. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 2.90 and a beta of 1.88. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $76.51. The business’s fifty day moving average price is $63.69 and its 200 day moving average price is $57.71.
Key Headlines Impacting Etsy
- Positive Sentiment: Etsy received a notable upgrade from Zacks Research, which moved the stock from hold to strong-buy, adding to bullish sentiment around the name. Zacks upgrade reference
- Positive Sentiment: The company launched its “Shop Other Jeffs” campaign ahead of Amazon Prime Day, a high-visibility marketing effort that could boost brand awareness and drive traffic to Etsy sellers. Article title
- Positive Sentiment: The campaign is getting broad media attention, which may help Etsy stay top-of-mind with shoppers during a key retail event period. Article title
- Neutral Sentiment: Recent articles noted Etsy’s strong short-term stock performance, but several pieces were primarily valuation commentary rather than new business catalysts. Article title
- Neutral Sentiment: Another valuation-focused report argued Etsy could be overvalued, reflecting debate over whether the recent rally has outpaced fundamentals. Article title
- Negative Sentiment: CEO Josh Silverman sold 50,000 shares, and a second filing showed an additional 52,479 shares sold, which can weigh on sentiment even though both trades were made under a pre-arranged 10b5-1 plan. SEC filing
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings raised shares of Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Roth Mkm assumed coverage on shares of Etsy in a research note on Thursday, May 21st. They issued a “buy” rating on the stock. Needham & Company LLC increased their target price on shares of Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group raised shares of Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.00.
View Our Latest Research Report on ETSY
Institutional Investors Weigh In On Etsy
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. EFG International AG acquired a new stake in shares of Etsy during the 4th quarter valued at about $33,000. Blue Trust Inc. increased its holdings in Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after buying an additional 200 shares during the last quarter. Danske Bank A S acquired a new position in Etsy in the third quarter worth approximately $66,000. Federation des caisses Desjardins du Quebec raised its position in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Etsy during the fourth quarter valued at approximately $79,000. 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.
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