Etsy (NYSE:ETSY) Insider Josh Silverman Sells 134,730 Shares of Stock

Etsy Inc (NYSE:ETSYGet Free Report) insider Josh Silverman sold 134,730 shares of Etsy stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70. Following the sale, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. This trade represents a 50.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Friday, May 1st, Josh Silverman sold 88,350 shares of Etsy stock. The stock was sold at an average price of $64.18, for a total value of $5,670,303.00.
  • On Wednesday, April 29th, Josh Silverman sold 36,443 shares of Etsy stock. The stock was sold at an average price of $69.00, for a total value of $2,514,567.00.
  • On Tuesday, April 21st, Josh Silverman sold 70,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total value of $4,550,000.00.
  • On Monday, April 20th, Josh Silverman sold 30,369 shares of Etsy stock. The stock was sold at an average price of $64.00, for a total value of $1,943,616.00.
  • On Thursday, April 16th, Josh Silverman sold 24,296 shares of Etsy stock. The stock was sold at an average price of $59.00, for a total value of $1,433,464.00.
  • On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The stock was sold at an average price of $54.00, for a total value of $655,992.00.
  • On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The stock was sold at an average price of $49.07, for a total value of $298,051.18.

Etsy Stock Down 3.6%

Shares of Etsy stock opened at $67.25 on Thursday. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51. The business has a fifty day simple moving average of $59.29 and a 200 day simple moving average of $56.44. The stock has a market cap of $6.38 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.88 and a beta of 1.88.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BTIG Research lifted their target price on Etsy from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Roth Mkm initiated coverage on Etsy in a research note on Thursday, May 21st. They set a “buy” rating for the company. Needham & Company LLC increased their target price on Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Guggenheim assumed coverage on shares of Etsy in a report on Thursday, May 21st. They issued a “buy” rating for the company. Finally, Evercore set a $72.00 price target on shares of Etsy in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.88.

Get Our Latest Report on ETSY

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ETSY. Lone Pine Capital LLC acquired a new position in shares of Etsy during the third quarter worth about $257,614,000. SG Americas Securities LLC boosted its position in shares of Etsy by 717.7% during the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after buying an additional 1,314,071 shares during the period. AQR Capital Management LLC boosted its position in shares of Etsy by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after buying an additional 1,177,301 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after buying an additional 1,112,520 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Etsy by 1,648.1% during the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after buying an additional 666,253 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

About Etsy

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Etsy (NYSE:ETSY)

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