Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman Sells 151,666 Shares

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) CEO Josh Silverman sold 151,666 shares of Etsy stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $57.68, for a total value of $8,748,094.88. Following the transaction, the chief executive officer now owns 107,809 shares in the company, valued at $6,218,423.12. This represents a 58.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, May 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $43.09, for a total value of $933,587.94.
• 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 value of $1,044,951.18.

Etsy Price Performance

Shares of NASDAQ ETSY traded up $1.09 during trading hours on Friday, hitting $63.81. 6,148,791 shares of the company's stock were exchanged, compared to its average volume of 4,069,608. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $66.90. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.57 and a beta of 1.80. The company's 50-day moving average price is $47.57 and its 200-day moving average price is $51.01.

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

Institutional Trading of Etsy

A number of hedge funds have recently modified their holdings of the company. Lindbrook Capital LLC raised its holdings in shares of Etsy by 55.7% in the 4th 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 boosted its position in Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after buying an additional 292 shares during the last quarter. Hurley Capital LLC bought a new position in Etsy in the 4th quarter valued at $32,000. Strategic Investment Solutions Inc. IL bought a new position in Etsy in the 4th quarter valued at $34,000. Finally, Allworth Financial LP boosted its position in Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after buying an additional 248 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Analysts Set New Price Targets

ETSY has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price target on Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald lifted their price target on Etsy from $42.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 target price on Etsy and gave the company a "hold" rating in a research note on Monday, April 14th. Finally, UBS Group lowered their target price on Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $50.50.

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.