Etsy (NASDAQ:ETSY) CEO Josh Silverman Sells 65,000 Shares

Key Points

• Josh Silverman, CEO of Etsy, sold 65,000 shares at an average price of $57.50, significantly reducing his ownership by 50.91% to approximately $3.6 million.
• Etsy's stock closed at $57.82 with a market capitalization of $5.73 billion, and it has a P/E ratio of 46.63.
• In its latest earnings report, Etsy missed EPS expectations, reporting $0.25 against a consensus of $0.54, but revenue increased by 3.8% year-over-year.

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) CEO Josh Silverman sold 65,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $57.50, for a total transaction of $3,737,500.00. Following the sale, the chief executive officer owned 62,674 shares of the company's stock, valued at approximately $3,603,755. This represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, September 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $51.61, for a total transaction of $1,118,182.26.
• On Friday, August 1st, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $58.76, for a total transaction of $1,273,094.16.
• On Thursday, July 24th, Josh Silverman sold 140,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total transaction of $9,100,000.00.
• On Tuesday, July 1st, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $51.37, for a total transaction of $1,112,982.42.

Etsy Price Performance

ETSY traded up $1.80 on Wednesday, hitting $57.82. The company had a trading volume of 5,866,029 shares, compared to its average volume of 4,944,531. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $70.57. The stock has a fifty day simple moving average of $58.73 and a 200-day simple moving average of $52.38. The firm has a market capitalization of $5.73 billion, a P/E ratio of 46.63, a P/E/G ratio of 3.71 and a beta of 1.77.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company had revenue of $672.66 million during the quarter, compared to analysts' expectations of $645.16 million. During the same quarter last year, the business earned $0.41 earnings per share. The business's quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently made changes to their positions in the company. Heritage Wealth Advisors increased its position in shares of Etsy by 476.5% during the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 405 shares in the last quarter. Signaturefd LLC increased its position in shares of Etsy by 52.7% during the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock valued at $28,000 after acquiring an additional 192 shares in the last quarter. True Wealth Design LLC increased its position in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 292 shares in the last quarter. Allworth Financial LP increased its position in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 248 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Etsy in the 2nd quarter worth approximately $35,000. Institutional investors own 99.53% of the company's stock.

Wall Street Analyst Weigh In

ETSY has been the subject of several research analyst reports. Guggenheim raised their price objective on shares of Etsy from $50.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Canaccord Genuity Group set a $76.00 target price on shares of Etsy in a research note on Wednesday, July 30th. Arete Research raised shares of Etsy from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 7th. Sanford C. Bernstein raised their target price on shares of Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial raised their target price on shares of Etsy from $50.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Etsy presently has an average rating of "Hold" and an average target price of $57.80.

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.

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