Etsy (NASDAQ:ETSY) CEO Sells $1,118,182.26 in Stock

Key Points

• Etsy CEO Josh Silverman sold 21,666 shares of the company's stock for a total of $1,118,182.26, reducing his ownership by 25.69% to approximately $3.23 million.
• Despite a missed earnings target with $0.25 EPS reported, Etsy's revenue increased by 3.8% year-over-year, totaling $672.66 million.
• Analysts have varying ratings for Etsy, with eight analysts recommending "Buy" and the stock having an average target price of $57.80.

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $51.61, for a total value of $1,118,182.26. Following the transaction, the chief executive officer owned 62,674 shares of the company's stock, valued at approximately $3,234,605.14. This represents a 25.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, August 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were 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 shares were 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 shares were sold at an average price of $51.37, for a total transaction of $1,112,982.42.

Etsy Trading Up 0.5%

ETSY traded up $0.27 on Wednesday, reaching $51.97. The stock had a trading volume of 4,411,289 shares, compared to its average volume of 4,890,199. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $70.57. The business's 50-day moving average price is $58.40 and its two-hundred day moving average price is $52.36. The company has a market cap of $5.15 billion, a P/E ratio of 41.91, a price-to-earnings-growth ratio of 3.38 and a beta of 1.77.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ETSY shares. Cantor Fitzgerald boosted their price objective on Etsy from $52.00 to $64.00 and gave the company a "neutral" rating in a research 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 raised shares of Etsy from a "sell" rating to a "neutral" rating and set a $54.00 target price for the company in a research note on Thursday, August 7th. Raymond James Financial boosted their target price on shares of Etsy from $50.00 to $70.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Guggenheim boosted their price objective on Etsy from $50.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Etsy currently has an average rating of "Hold" and an average target price of $57.80.

Institutional Trading of Etsy

Large investors have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors grew its holdings in shares of Etsy by 476.5% in the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 405 shares during the period. Signaturefd LLC grew its position in Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock worth $28,000 after acquiring an additional 192 shares during the period. True Wealth Design LLC grew its position in Etsy by 112.7% in the fourth 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 period. Allworth Financial LP grew its position in Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 248 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Etsy during the 2nd quarter worth $35,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

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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