Etsy, Inc. (NASDAQ:ETSY) CEO Sells $1,044,951.18 in Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total value of $1,044,951.18. Following the transaction, the chief executive officer now owns 31,818 shares of the company’s stock, valued at approximately $1,534,582.14. This represents a 40.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, February 24th, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $44.42 on Friday. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The business has a 50-day simple moving average of $50.45 and a two-hundred day simple moving average of $52.43. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Etsy in the fourth quarter valued at about $74,235,000. Assenagon Asset Management S.A. lifted its stake in shares of Etsy by 132.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after buying an additional 711,572 shares during the last quarter. Van ECK Associates Corp grew its position in Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after buying an additional 522,111 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Etsy by 89.1% during the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer’s stock valued at $47,042,000 after buying an additional 419,038 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ETSY shares. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and reduced their price target for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Stifel Nicolaus reduced their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company lowered their target price on Etsy from $47.00 to $46.00 and set an “underweight” rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. Finally, Morgan Stanley lowered their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.38.

About Etsy

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.