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

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total value of $1,044,951.18. Following the transaction, the chief executive officer now directly owns 31,818 shares in the company, valued at approximately $1,534,582.14. This trade represents a 40.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, February 24th, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30.

Etsy Trading Down 8.2 %

Shares of NASDAQ ETSY opened at $44.42 on Friday. The stock has a 50-day moving average price of $50.45 and a two-hundred day moving average price of $52.44. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the prior year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Institutional Trading of Etsy

A number of hedge funds have recently made changes to their positions in ETSY. Lindbrook Capital LLC increased its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares during the period. True Wealth Design LLC increased its stake in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 292 shares during the period. Hurley Capital LLC bought a new stake in Etsy in the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Etsy in the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC bought a new position in Etsy during the fourth quarter worth $37,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ETSY. JPMorgan Chase & Co. started coverage on shares of Etsy in a research report on Wednesday, March 19th. They set a “neutral” rating and a $50.00 price objective for the company. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Morgan Stanley reduced their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald lowered their target price on Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, Wells Fargo & Company reduced their price target on Etsy from $47.00 to $46.00 and set an “underweight” rating for the company in a research note on Wednesday. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.38.

Etsy Company Profile

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.