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

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $61.46, for a total transaction of $1,331,592.36. Following the completion of the transaction, the chief executive officer directly owned 78,946 shares of the company’s stock, valued at approximately $4,852,021.16. The trade was a 21.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, October 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $70.19, for a total transaction of $1,520,736.54.
• On Monday, September 29th, Josh Silverman sold 150,000 shares of Etsy stock. The shares were sold at an average price of $72.50, for a total transaction 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 transaction 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 shares were sold at an average price of $51.61, for a total transaction of $1,118,182.26.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $60.17 on Thursday. The firm has a fifty day moving average price of $64.63 and a two-hundred day moving average price of $58.32. Etsy, Inc. has a one year low of $40.05 and a one year high of $76.51. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 48.53, a PEG ratio of 10.65 and a beta of 1.87.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. During the same period last year, the firm earned $0.45 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Etsy

A number of large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in Etsy by 58.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,740 shares of the specialty retailer’s stock worth $182,000 after purchasing an additional 1,006 shares during the period. Bessemer Group Inc. raised its position in Etsy by 17.1% in the 3rd quarter. Bessemer Group Inc. now owns 1,816 shares of the specialty retailer’s stock worth $121,000 after purchasing an additional 265 shares during the period. Savant Capital LLC raised its position in Etsy by 2.0% in the 3rd quarter. Savant Capital LLC now owns 70,116 shares of the specialty retailer’s stock worth $4,655,000 after purchasing an additional 1,381 shares during the period. Penserra Capital Management LLC increased its position in shares of Etsy by 11.1% in the third quarter. Penserra Capital Management LLC now owns 83,710 shares of the specialty retailer’s stock valued at $5,557,000 after acquiring an additional 8,394 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of Etsy by 1,648.1% in the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the specialty retailer’s stock valued at $46,916,000 after acquiring an additional 666,253 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ETSY. Guggenheim reaffirmed a “buy” rating and set a $70.00 price objective on shares of Etsy in a report on Thursday, September 18th. Truist Financial lifted their price objective on shares of Etsy from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. BTIG Research lifted their price objective on shares of Etsy from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Arete Research raised shares of Etsy from a “strong sell” rating to a “hold” rating in a report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $72.00 price objective on shares of Etsy in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average target price of $64.24.

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.