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

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $70.19, for a total value of $1,520,736.54. Following the transaction, the chief executive officer directly owned 62,674 shares of the company’s stock, valued at approximately $4,399,088.06. This represents a 25.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 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 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 shares were sold at an average price of $65.00, for a total value of $9,100,000.00.

Etsy Stock Performance

Etsy stock opened at $72.38 on Friday. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.52. The company has a market capitalization of $7.17 billion, a P/E ratio of 58.37, a PEG ratio of 4.61 and a beta of 1.85. The stock has a 50-day simple moving average of $61.07 and a 200-day simple moving average of $54.38.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Morgan Stanley set a $54.00 price objective on Etsy in a research note on Monday, September 29th. Cantor Fitzgerald upped their price objective on Etsy from $52.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Sanford C. Bernstein upped their price objective on Etsy from $45.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, July 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Etsy in a research note on Saturday, September 27th. Finally, Bank of America upped their price objective on Etsy from $67.00 to $71.00 and gave the company a “neutral” rating in a research note 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.69.

Institutional Investors Weigh In On Etsy

Large investors have recently bought and sold shares of the stock. Cooper Financial Group grew its holdings in Etsy by 31.3% during the 1st quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer’s stock valued at $895,000 after buying an additional 4,523 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Etsy during the 1st quarter valued at $288,000. Praxis Investment Management Inc. acquired a new stake in Etsy during the 1st quarter valued at $232,000. Focus Partners Advisor Solutions LLC acquired a new stake in Etsy during the 1st quarter valued at $922,000. Finally, Lmcg Investments LLC grew its holdings in Etsy by 56.2% during the 1st quarter. Lmcg Investments LLC now owns 42,386 shares of the specialty retailer’s stock valued at $2,000,000 after buying an additional 15,254 shares during the last quarter. Institutional investors and hedge funds 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.