Etsy (NASDAQ:ETSY) CEO Josh Silverman Sells 21,666 Shares

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $70.19, for a total value of $1,520,736.54. Following the transaction, the chief executive officer owned 62,674 shares of the company’s stock, valued at $4,399,088.06. This represents a 25.69% decrease in their position. The transaction 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, September 29th, Josh Silverman sold 150,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total value of $10,875,000.00.
• On Thursday, September 18th, Josh Silverman sold 70,000 shares of Etsy stock. The shares were sold at an average price of $65.00, for a total value of $4,550,000.00.
• On Monday, September 8th, Josh Silverman sold 65,000 shares of Etsy stock. The shares were sold at an average price of $57.50, for a total transaction of $3,737,500.00.
• On Tuesday, September 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $51.61, for a total transaction of $1,118,182.26.
• On Friday, August 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $58.76, for a total transaction of $1,273,094.16.
• On Thursday, July 24th, Josh Silverman sold 140,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total transaction of $9,100,000.00.

Etsy Trading Down 0.2%

Shares of NASDAQ ETSY opened at $72.38 on Monday. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.52. The firm’s 50-day moving average price is $61.07 and its 200-day moving average price is $54.44. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 58.37, a P/E/G ratio of 4.61 and a beta of 1.85.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company had revenue of $672.66 million during the quarter, compared to analysts’ expectations of $645.16 million. During the same quarter in the prior year, the business posted $0.41 EPS. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ETSY shares. BTIG Research increased their price target on Etsy from $72.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Barclays reissued a “positive” rating and issued a $60.00 target price (up previously from $52.00) on shares of Etsy in a research note on Thursday, July 31st. Truist Financial lifted their price target on shares of Etsy from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Bank of America increased their price objective on shares of Etsy from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company boosted their target price on Etsy from $41.00 to $57.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.69.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the specialty retailer’s stock valued at $88,000 after acquiring an additional 158 shares in the last quarter. Alamea Verwaltungs GmbH boosted its position in shares of Etsy by 2.3% in the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the specialty retailer’s stock worth $370,000 after purchasing an additional 169 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Etsy by 0.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the specialty retailer’s stock worth $1,440,000 after buying an additional 172 shares during the last quarter. Blue Trust Inc. increased its position in Etsy by 18.7% during the 2nd quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 181 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

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.