Insider Selling: Etsy, Inc. (NASDAQ:ETSY) CEO Sells 21,666 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $43.09, for a total value of $933,587.94. Following the completion of the sale, the chief executive officer now owns 53,484 shares in the company, valued at approximately $2,304,625.56. This represents a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, April 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18.
• On Monday, February 24th, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30.

Etsy Trading Down 1.9 %

Shares of NASDAQ:ETSY traded down $0.92 during trading on Friday, hitting $46.94. 4,189,509 shares of the company's stock traded hands, compared to its average volume of 3,858,189. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. The company has a 50-day moving average price of $45.44 and a 200-day moving average price of $50.94. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 EPS. On average, analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC grew its holdings in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC bought a new position in shares of Etsy in the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy during the 4th quarter worth about $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of Etsy during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ETSY shares. Evercore ISI reduced their price target on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus reduced their target price on shares of Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Citigroup reduced their price objective on Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, Loop Capital lowered their target price on Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $50.14.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.