Etsy (NYSE:ETSY) Insider Sells 92,404 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 92,404 shares of Etsy stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $74.93, for a total transaction of $6,923,831.72. Following the sale, the insider owned 139,884 shares of the company’s stock, valued at approximately $10,481,508.12. This trade represents a 39.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, June 24th, Josh Silverman sold 97,389 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total transaction of $7,693,731.00.
• On Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total transaction of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The shares were sold at an average price of $74.00, for a total value of $3,883,446.00.
• On Monday, June 1st, Josh Silverman sold 134,730 shares of Etsy stock. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70.
• 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 shares were 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 shares were 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 shares were sold at an average price of $59.00, for a total value of $1,433,464.00.

Etsy Trading Down 2.2%

Shares of NYSE ETSY traded down $1.73 on Monday, reaching $75.24. 2,419,455 shares of the company traded hands, compared to its average volume of 3,365,861. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $80.41. The company has a 50 day moving average of $67.49 and a 200 day moving average of $59.42. The stock has a market capitalization of $7.14 billion, a PE ratio of 31.35, a P/E/G ratio of 3.20 and a beta of 1.83.

Institutional Investors Weigh In On Etsy

Several hedge funds have recently modified their holdings of ETSY. Renaissance Technologies LLC grew its position in Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after acquiring an additional 594,768 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Etsy by 40.1% in the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after purchasing an additional 1,177,301 shares during the period. Lone Pine Capital LLC purchased a new position in shares of Etsy in the third quarter valued at $257,614,000. Van ECK Associates Corp grew its holdings in Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after purchasing an additional 39,067 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Etsy by 51.4% during the 1st 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. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ETSY. Wells Fargo & Company upped their price target on shares of Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Canaccord Genuity Group boosted their price objective on shares of Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. B. Riley Financial lowered Etsy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $70.00 to $75.00 in a research report on Thursday, April 30th. Sanford C. Bernstein lifted their target price on Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, April 30th. Finally, Bank of America boosted their price target on Etsy from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.80.

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.