Josh Silverman Sells 11,696 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSYGet Free Report) insider Josh Silverman sold 11,696 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $81.85, for a total transaction of $957,317.60. Following the transaction, the insider directly owned 249,559 shares of the company’s stock, valued at approximately $20,426,404.15. This trade represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Thursday, September 3rd, Josh Silverman sold 1,671 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total transaction of $140,364.00.
  • On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total transaction of $528,696.00.
  • On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The shares were sold at an average price of $83.11, for a total transaction of $3,416,485.88.
  • On Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total transaction of $3,093,719.00.
  • On Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The stock was sold at an average price of $74.93, for a total transaction of $6,923,831.72.
  • 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 shares were 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 stock was sold at an average price of $74.00, for a total value of $3,883,446.00.

Etsy Price Performance

ETSY stock traded up $0.16 on Thursday, reaching $81.88. The company’s stock had a trading volume of 2,628,958 shares, compared to its average volume of 3,233,756. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.97. The company has a market capitalization of $7.77 billion, a P/E ratio of 45.74, a price-to-earnings-growth ratio of 2.04 and a beta of 1.81. The firm has a fifty day moving average of $81.23 and a two-hundred day moving average of $66.99.

Etsy (NYSE:ETSYGet Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). The business had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that Etsy Inc will post 3.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ETSY. Jefferies Financial Group lifted their price objective on shares of Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. B. Riley Financial raised their target price on shares of Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Bank of America raised shares of Etsy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $88.00 to $95.00 in a research note on Thursday, August 20th. JPMorgan Chase & Co. upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $100.00 in a report on Friday, August 7th. Finally, Arete Research set a $76.00 price objective on shares of Etsy and gave the company a “buy” rating in a research note on Wednesday, May 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.68.

Get Our Latest Analysis on Etsy

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

  • Positive Sentiment: Zacks Research upgraded Etsy from “hold” to “strong-buy,” providing a positive technical and sentiment catalyst for the stock. Etsy investor conference announcement
  • Positive Sentiment: Etsy will participate in the Goldman Sachs Communacopia and Technology Conference on September 9. Investors may look for updates on marketplace trends, growth initiatives and outlook during the webcast fireside chat, although no new financial guidance was provided. Etsy to Participate in Upcoming Investor Conference
  • Neutral Sentiment: Several executives and directors reported stock sales totaling roughly 36,280 shares. Josh Silverman sold 13,367 shares, director Frederick Wilson sold 20,000 shares, and Richard Edward Colburn III sold 2,913 shares. Silverman’s and Wilson’s transactions were executed under pre-arranged Rule 10b5-1 plans, while Colburn’s sale covered tax withholding tied to vested equity awards, reducing the likelihood that the trades signal deteriorating confidence. Etsy insider transaction filing
  • Negative Sentiment: The insider transactions represent near-term selling pressure and may attract investor attention because they occurred around the $82–$84 range. However, the sellers retained substantial holdings, including Silverman’s approximately 249,559 shares and Wilson’s approximately 401,329 shares. Etsy director transaction filing

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. EFG International AG bought a new stake in Etsy in the fourth quarter worth about $33,000. Global Retirement Partners LLC bought a new position in shares of Etsy during the 2nd quarter valued at about $34,000. Blue Trust Inc. boosted its position in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Danske Bank A S bought a new position in shares of Etsy during the 3rd quarter valued at about $66,000. Finally, Federation des caisses Desjardins du Quebec grew its stake in shares of Etsy by 22.8% in 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. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Etsy (NYSE:ETSY)

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