Etsy (NYSE:ETSY) Insider Josh Silverman Sells 24,296 Shares

Key Points

• Josh Silverman, an Etsy insider, sold 24,296 shares on April 16 at an average price of $59 under a pre-arranged Rule 10b5-1 trading plan, a transaction worth about $1.43 million that reduced his stake by ~15.68% to 130,694 shares.
• Etsy shares rose 3.8% to $64.23 after the company reported an EPS beat ($0.92 vs. $0.88) on $881.6M revenue, but several analysts have trimmed price targets and the consensus rating is Hold with an average target of $61.67.

Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 24,296 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $59.00, for a total value of $1,433,464.00. Following the sale, the insider owned 130,694 shares in the company, valued at approximately $7,710,946. This represents a 15.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 20th, Josh Silverman sold 30,369 shares of Etsy stock. The stock was sold at an average price of $64.00, for a total value of $1,943,616.00.
• On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The stock was sold at an average price of $54.00, for a total value of $655,992.00.
• On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The stock was sold at an average price of $49.07, for a total value of $298,051.18.
• On Monday, February 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $53.26, for a total transaction of $1,153,931.16.

Etsy Stock Up 3.8%

NYSE ETSY traded up $2.33 on Monday, hitting $64.23. The stock had a trading volume of 2,875,038 shares, compared to its average volume of 3,467,465. Etsy Inc has a 52-week low of $41.51 and a 52-week high of $76.51. The company has a market capitalization of $6.18 billion, a P/E ratio of 49.03, a price-to-earnings-growth ratio of 4.04 and a beta of 1.77. The business has a 50-day moving average of $52.43.

Etsy (NYSE:ETSY - Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The business had revenue of $881.64 million for the quarter. Equities research analysts expect that Etsy Inc will post 3.62 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ETSY. JPMorgan Chase & Co. lowered their price target on Etsy from $65.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Needham & Company LLC lowered their target price on shares of Etsy from $76.00 to $65.00 and set a "buy" rating on the stock in a research note on Friday, February 20th. BTIG Research lowered their target price on shares of Etsy from $74.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 19th. Barclays raised shares of Etsy from an "equal weight" rating to an "overweight" rating and set a $72.00 target price on the stock in a research note on Thursday, February 19th. Finally, Canaccord Genuity Group lowered their target price on shares of Etsy from $80.00 to $72.00 and set a "buy" rating on the stock in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $61.67.

Hedge Funds Weigh In On Etsy

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company's stock valued at $227,785,000 after buying an additional 1,177,301 shares in the last quarter. Lone Pine Capital LLC purchased a new position in shares of Etsy during the 3rd quarter valued at about $257,614,000. Van ECK Associates Corp raised its holdings in shares of Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company's stock valued at $207,022,000 after buying an additional 39,067 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Etsy by 3.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company's stock valued at $89,338,000 after buying an additional 59,123 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Etsy by 717.7% during the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company's stock valued at $74,829,000 after buying an additional 1,314,071 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

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