Etsy (NYSE:ETSY) Insider Sells $28,342.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 383 shares of the stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $74.00, for a total transaction of $28,342.00. Following the transaction, the insider directly owned 262,234 shares of the company’s stock, valued at $19,405,316. This represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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, October 1st, Josh Silverman sold 2,090 shares of Etsy stock. The shares were sold at an average price of $72.45, for a total value of $151,420.50.
• On Tuesday, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The stock was sold at an average price of $81.85, for a total value of $957,317.60.
• 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 value of $140,364.00.
• On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The shares were sold at an average price of $84.00, for a total value of $528,696.00.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The stock was sold at an average price of $83.11, for a total value of $3,416,485.88.

Etsy Stock Performance

NYSE:ETSY traded up $1.65 during trading hours on Friday, hitting $76.79. The company’s stock had a trading volume of 2,974,803 shares, compared to its average volume of 3,239,992. The business’s 50-day moving average is $77.30 and its two-hundred day moving average is $70.74. The company has a market capitalization of $7.29 billion, a PE ratio of 42.90, a PEG ratio of 1.78 and a beta of 1.86. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97.

Etsy (NYSE:ETSY) last released its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. Etsy’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. As a group, analysts predict that Etsy Inc will post 3.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently bought and sold shares of ETSY. Renaissance Technologies LLC grew its stake in shares of Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after buying an additional 594,768 shares during the period. Van ECK Associates Corp raised its position in shares of Etsy by 1.1% in the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after buying an additional 39,067 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after acquiring an additional 1,112,520 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Etsy by 48.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock valued at $121,532,000 after acquiring an additional 523,092 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Etsy during the second quarter valued at about $120,417,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ETSY has been the topic of several recent analyst reports. Evercore set a $83.00 target price on shares of Etsy in a research report on Thursday, August 6th. Cantor Fitzgerald raised their price objective on Etsy from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Canaccord Genuity Group set a $92.00 price objective on Etsy in a report on Thursday, August 6th. Barclays raised their price target on Etsy from $82.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Truist Financial raised their target price on shares of Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Etsy has a consensus rating of “Hold” and an average target price of $86.21.

Etsy Company Profile

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.