Etsy (NYSE:ETSY) Insider Josh Silverman Sells 30,369 Shares

Key Points

• Josh Silverman sold 30,369 shares on April 20 at an average price of $64 for about $1.94 million, reducing his direct stake to 130,694 shares (an ~18.86% drop).
• The April 20 sale is part of a string of recent disposals executed under a pre-arranged Rule 10b5-1 plan — Silverman sold roughly 94,553 shares in total across February and April, signaling sustained insider selling.
• Etsy shares rose 3.8% to $64.23 on the day; analysts hold a consensus “Hold” rating with an average price target of $61.67 and the company carries a market cap of about $6.18 billion.

Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 30,369 shares of the company's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $64.00, for a total value of $1,943,616.00. Following the transaction, the insider directly owned 130,694 shares in the company, valued at approximately $8,364,416. This trade represents a 18.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, April 16th, Josh Silverman sold 24,296 shares of Etsy stock. The stock was sold at an average price of $59.00, for a total value of $1,433,464.00.
• 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 value of $1,153,931.16.

Etsy Stock Up 3.8%

Shares of ETSY traded up $2.33 on Monday, reaching $64.23. The company's stock had a trading volume of 2,875,038 shares, compared to its average volume of 3,467,465. Etsy Inc has a twelve month low of $41.51 and a twelve month high of $76.51. The firm has a market cap of $6.18 billion, a PE ratio of 49.03, a PEG ratio of 4.04 and a beta of 1.77. The company has a fifty 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 for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The company had revenue of $881.64 million for the quarter. Equities research analysts forecast that Etsy Inc will post 3.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ETSY. Jefferies Financial Group decreased their price target on Etsy from $62.00 to $55.00 and set a "hold" rating for the company in a report on Thursday, February 12th. B. Riley Financial lowered their target price on shares of Etsy from $78.00 to $70.00 and set a "buy" rating for the company in a report on Friday, February 20th. JPMorgan Chase & Co. lowered their target price on shares of Etsy from $65.00 to $58.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Stifel Nicolaus lowered their target price on shares of Etsy from $62.00 to $55.00 and set a "hold" rating for the company in a report on Friday, February 20th. Finally, BTIG Research lowered their target price on shares of Etsy from $74.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Etsy has a consensus rating of "Hold" and an average price target of $61.67.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after purchasing an additional 200 shares during the period. SG Americas Securities LLC grew its stake in Etsy by 717.7% in the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company's stock valued at $74,829,000 after purchasing an additional 1,314,071 shares during the period. Compound Planning Inc. grew its stake in Etsy by 16.6% in the 4th quarter. Compound Planning Inc. now owns 4,000 shares of the company's stock valued at $222,000 after purchasing an additional 570 shares during the period. Invesco Ltd. grew its stake in Etsy by 26.8% in the 4th quarter. Invesco Ltd. now owns 361,193 shares of the company's stock valued at $20,025,000 after purchasing an additional 76,379 shares during the period. Finally, Rare Wolf Capital LLC bought a new position in Etsy in the 4th quarter valued at $1,247,000. Institutional investors own 99.53% of the company's stock.

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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