Josh Silverman Sells 6,074 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 6,074 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $49.07, for a total transaction of $298,051.18. Following the sale, the insider owned 130,694 shares in the company, valued at $6,413,154.58. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 Monday, February 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $53.26, for a total transaction of $1,153,931.16.

Etsy Stock Down 0.1%

Shares of ETSY stock traded down $0.04 during trading hours on Friday, hitting $51.60. 2,597,604 shares of the company were exchanged, compared to its average volume of 2,739,893. Etsy Inc has a 52 week low of $40.05 and a 52 week high of $76.51. The company has a 50 day moving average of $52.52. The stock has a market cap of $4.97 billion, a P/E ratio of 39.39, a PEG ratio of 3.19 and a beta of 1.77.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $881.64 million for the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%.

Etsy announced that its board has initiated a stock buyback plan on Thursday, December 18th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 14.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently bought and sold shares of ETSY. Integrated Wealth Concepts LLC grew its stake in Etsy by 19.1% in the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock valued at $282,000 after purchasing an additional 961 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Etsy by 55.5% during the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after purchasing an additional 3,451 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Etsy in the 1st quarter valued at approximately $2,181,000. Creative Planning boosted its holdings in shares of Etsy by 15.0% in the 2nd quarter. Creative Planning now owns 13,494 shares of the company’s stock valued at $677,000 after buying an additional 1,757 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Etsy in the second quarter valued at $35,000. Institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of research reports. Wedbush decreased their price objective on Etsy from $72.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Citigroup reaffirmed a “buy” rating on shares of Etsy in a research report on Tuesday, December 30th. Zacks Research raised shares of Etsy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Morgan Stanley lowered their price objective on shares of Etsy from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Etsy in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Etsy has an average rating of “Hold” and an average target price of $60.80.

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.