Etsy (NYSE:ETSY) Insider Sells $7,693,731.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 97,389 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the sale, the insider directly owned 130,694 shares in the company, valued at $10,324,826. This trade represents a 42.70% decrease in their position. The sale was disclosed in a legal filing 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, 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 value 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 shares were 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 stock was 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 transaction of $1,943,616.00.
• On Thursday, April 16th, Josh Silverman sold 24,296 shares of Etsy stock. The stock was sold at an average price of $59.00, for a total transaction of $1,433,464.00.
• On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The shares were sold at an average price of $54.00, for a total transaction of $655,992.00.
• On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The shares were sold at an average price of $49.07, for a total transaction of $298,051.18.

Etsy Stock Up 0.4%

Shares of NYSE ETSY opened at $78.03 on Friday. The firm has a market cap of $7.41 billion, a PE ratio of 32.51, a P/E/G ratio of 3.11 and a beta of 1.88. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $79.90. The company’s fifty day simple moving average is $66.20 and its 200 day simple moving average is $58.61.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ETSY. Arete Research set a $76.00 price objective on shares of Etsy and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Weiss Ratings raised Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price target on Etsy from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, June 12th. Guggenheim started coverage on Etsy in a research note on Thursday, May 21st. They issued a “buy” rating for the company. Finally, Evercore set a $72.00 price objective on Etsy in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.80.

Institutional Trading of Etsy

A number of hedge funds have recently bought and sold shares of ETSY. EFG International AG purchased a new stake in shares of Etsy during the 4th quarter valued at $33,000. Blue Trust Inc. boosted its stake in Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares during the last quarter. Danske Bank A S bought a new position in shares of Etsy during the 3rd quarter valued at approximately $66,000. Federation des caisses Desjardins du Quebec increased its stake in shares of Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after purchasing an additional 225 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Etsy during the 4th quarter worth approximately $79,000. 99.53% of the stock is currently owned by institutional investors.

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.