Etsy (NASDAQ:ETSY) CEO Josh Silverman Sells 70,000 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 70,000 shares of Etsy stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $65.00, for a total value of $4,550,000.00. Following the completion of the transaction, the chief executive officer owned 62,674 shares of the company’s stock, valued at approximately $4,073,810. The trade was a 52.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 value 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 value 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 value 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 value of $9,100,000.00.
• On Tuesday, July 1st, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $51.37, for a total value of $1,112,982.42.

Etsy Trading Up 0.2%

Shares of NASDAQ ETSY opened at $64.99 on Friday. The stock has a 50 day simple moving average of $59.63 and a 200-day simple moving average of $52.88. The company has a market cap of $6.44 billion, a PE ratio of 52.41, a P/E/G ratio of 4.13 and a beta of 1.77. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $70.57.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.29). The business had revenue of $672.66 million for the quarter, compared to analyst estimates of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETSY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Etsy from $40.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, July 22nd. Arete raised Etsy from a “sell” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Thursday, August 7th. UBS Group reissued a “neutral” rating and set a $67.00 target price on shares of Etsy in a report on Thursday, July 31st. Guggenheim reissued a “buy” rating and set a $70.00 target price on shares of Etsy in a report on Thursday. Finally, Bank of America boosted their target price on Etsy from $67.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Etsy has an average rating of “Hold” and a consensus price target of $57.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ETSY. Heritage Wealth Advisors increased its holdings in shares of Etsy by 476.5% in the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 405 shares in the last quarter. Signaturefd LLC increased its holdings in shares of 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 in the last quarter. Allworth Financial LP increased its holdings in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 248 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Etsy in the second quarter valued at $35,000. Finally, SVB Wealth LLC bought a new position in shares of Etsy in the first quarter valued at $36,000. Institutional investors own 99.53% of the company’s stock.

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.