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

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction on 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 owned 62,674 shares of the company’s stock, valued at $4,399,088.06. This trade represents a 25.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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.

Etsy Stock Performance

ETSY opened at $72.38 on Friday. Etsy, Inc. has a one year low of $40.05 and a one year high of $76.52. The stock’s fifty day moving average is $61.07 and its 200-day moving average is $54.31. The company has a market capitalization of $7.17 billion, a PE ratio of 58.37, a P/E/G ratio of 4.62 and a beta of 1.85.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ETSY. Wealth Enhancement Advisory Services LLC grew its stake in Etsy by 125.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the specialty retailer’s stock valued at $923,000 after purchasing an additional 9,718 shares in the last quarter. GAMMA Investing LLC grew its stake in Etsy by 6,477.2% in the first quarter. GAMMA Investing LLC now owns 90,963 shares of the specialty retailer’s stock valued at $4,292,000 after purchasing an additional 89,580 shares in the last quarter. Merit Financial Group LLC grew its stake in Etsy by 676.5% in the first quarter. Merit Financial Group LLC now owns 29,934 shares of the specialty retailer’s stock valued at $1,412,000 after purchasing an additional 26,079 shares in the last quarter. Lmcg Investments LLC grew its stake in Etsy by 56.2% in the first quarter. Lmcg Investments LLC now owns 42,386 shares of the specialty retailer’s stock valued at $2,000,000 after purchasing an additional 15,254 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Etsy in the first quarter valued at about $212,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Etsy from $40.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, July 22nd. Truist Financial boosted their target price on Etsy from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Arete Research raised Etsy from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 7th. Cantor Fitzgerald boosted their target price on Etsy from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, Guggenheim reaffirmed a “buy” rating and set a $70.00 target price on shares of Etsy in a research report on Thursday, September 18th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.69.

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.