Etsy (NYSE:ETSY) Insider Sells $655,992.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 12,148 shares of Etsy stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $54.00, for a total transaction of $655,992.00. Following the transaction, the insider directly owned 130,694 shares in the company, valued at approximately $7,057,476. This trade represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The shares were sold at an average price of $49.07, for a total transaction of $298,051.18.
• On Monday, February 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $53.26, for a total transaction of $1,153,931.16.

Etsy Trading Down 1.2%

Shares of ETSY stock opened at $52.77 on Friday. The firm has a market capitalization of $5.08 billion, a PE ratio of 40.28, a price-to-earnings-growth ratio of 3.41 and a beta of 1.77. Etsy Inc has a fifty-two week low of $41.51 and a fifty-two week high of $76.51. The firm’s 50 day simple moving average is $52.06.

Etsy (NYSE:ETSY) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $881.64 million for the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%.

Etsy declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 18th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 14.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

ETSY has been the topic of a number of recent research reports. UBS Group reduced their target price on shares of Etsy from $74.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Morgan Stanley reduced their target price on shares of Etsy from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, February 20th. Citigroup reissued a “buy” rating on shares of Etsy in a research report on Tuesday, December 30th. BTIG Research reduced their target price on shares of Etsy from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Finally, Zacks Research raised shares of Etsy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.67.

Institutional Trading of Etsy

Several institutional investors have recently added to or reduced their stakes in ETSY. Integrated Wealth Concepts LLC raised its holdings in Etsy by 19.1% in the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock valued at $282,000 after acquiring an additional 961 shares in the last quarter. Empowered Funds LLC raised its holdings in Etsy by 55.5% in the first quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after acquiring an additional 3,451 shares in the last quarter. Woodline Partners LP acquired a new stake in Etsy in the first quarter valued at $2,181,000. Northwestern Mutual Wealth Management Co. raised its holdings in Etsy by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock valued at $180,000 after acquiring an additional 906 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in Etsy in the second quarter valued at $232,000. 99.53% of the stock is owned by institutional investors and hedge funds.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.