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

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Etsy Trading Down 2.7 %

ETSY stock opened at $51.70 on Thursday. The business has a 50 day simple moving average of $54.01 and a 200-day simple moving average of $53.75. The company has a market capitalization of $5.54 billion, a P/E ratio of 21.81, a PEG ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $73.48.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. Research analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Etsy declared that its board has initiated a share buyback program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently added to or reduced their stakes in ETSY. Neo Ivy Capital Management purchased a new position in shares of Etsy in the 4th quarter valued at approximately $3,334,000. GTS Securities LLC lifted its holdings in shares of Etsy by 142.3% during the fourth quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock worth $776,000 after purchasing an additional 49,333 shares during the period. PharVision Advisers LLC purchased a new position in Etsy in the 4th quarter valued at $283,000. Voloridge Investment Management LLC increased its stake in Etsy by 40.6% in the 4th quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer’s stock valued at $25,200,000 after buying an additional 137,602 shares during the period. Finally, iSAM Funds UK Ltd purchased a new position in Etsy during the 4th quarter worth $288,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Moffett Nathanson lifted their price target on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and dropped their price objective for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Stifel Nicolaus reduced their price objective on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Etsy presently has a consensus rating of “Hold” and a consensus target price of $58.78.

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.