Insider Selling: Etsy (NYSE:ETSY) Insider Sells $3,823,395.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 41,500 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $92.13, for a total transaction of $3,823,395.00. Following the completion of the sale, the insider owned 221,117 shares of the company’s stock, valued at approximately $20,371,509.21. The trade was a 15.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, October 30th, Josh Silverman sold 1,189 shares of Etsy stock. The stock was sold at an average price of $88.70, for a total value of $105,464.30.
• On Thursday, October 15th, Josh Silverman sold 417 shares of Etsy stock. The shares were sold at an average price of $84.47, for a total value of $35,223.99.
• On Tuesday, October 13th, Josh Silverman sold 714 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total value of $56,406.00.
• On Thursday, October 8th, Josh Silverman sold 383 shares of Etsy stock. The shares were sold at an average price of $74.00, for a total value of $28,342.00.
• On Thursday, October 1st, Josh Silverman sold 2,090 shares of Etsy stock. The stock was 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.

Etsy Price Performance

Shares of ETSY traded up $3.56 on Monday, reaching $92.52. 5,002,804 shares of the stock traded hands, compared to its average volume of 3,275,248. The stock’s 50-day moving average price is $78.74 and its 200-day moving average price is $68.21. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 2.07 and a beta of 1.75. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $95.49.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, October 28th. The company reported $7.31 EPS for the quarter, topping the consensus estimate of $0.76 by $6.55. The firm had revenue of $692.47 million during the quarter, compared to analysts’ expectations of $669.04 million. Etsy had a negative return on equity of 43.65% and a net margin of 34.36%. Etsy’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. As a group, equities research analysts forecast that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ETSY. William Blair Investment Management LLC acquired a new position in Etsy in the second quarter worth $120,417,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares during the last quarter. Findlay Park Partners LLP bought a new stake in shares of Etsy during the second quarter worth $66,170,000. Renaissance Technologies LLC increased its stake in shares of Etsy by 11.1% in the first 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 in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Etsy in the second quarter valued at $42,781,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Etsy from $59.00 to $80.00 and gave the company an “underweight” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of Etsy from $90.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on shares of Etsy from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Barclays upped their target price on shares of Etsy from $94.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.07.

Etsy Company Profile

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.