Etsy (NYSE:ETSY) Insider Josh Silverman Sells 39,161 Shares of Stock

Key Points

• Etsy insider Josh Silverman sold 39,161 shares on July 10 at an average price of $79.00, totaling about $3.09 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan and reduced his direct holdings by 21.87%.
• Silverman has made several other recent stock sales, including large transactions in June and July, indicating an ongoing pattern of insider selling. Earlier sales ranged from 24,296 to 134,730 shares per transaction.
• Etsy shares have been strong recently, trading at $83.28, near their 12-month high of $83.36. Analysts currently have an average rating of “Hold” with an average price target of $72.80.

Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 39,161 shares of the firm's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $79.00, for a total transaction of $3,093,719.00. Following the sale, the insider directly owned 139,884 shares in the company, valued at approximately $11,050,836. The trade was a 21.87% decrease in their position. The sale was disclosed in a legal 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 Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The shares were sold at an average price of $74.93, for a total transaction of $6,923,831.72.
• On Wednesday, June 24th, Josh Silverman sold 97,389 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total transaction of $7,693,731.00.
• On Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The shares were sold at an average price of $72.50, for a total transaction of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The stock was sold at an average price of $74.00, for a total transaction of $3,883,446.00.
• On Monday, June 1st, Josh Silverman sold 134,730 shares of Etsy stock. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70.
• On Friday, May 1st, Josh Silverman sold 88,350 shares of Etsy stock. The shares were sold at an average price of $64.18, for a total transaction of $5,670,303.00.
• On Wednesday, April 29th, Josh Silverman sold 36,443 shares of Etsy stock. The shares were sold at an average price of $69.00, for a total value of $2,514,567.00.
• On Tuesday, April 21st, Josh Silverman sold 70,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total value of $4,550,000.00.
• 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 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.

Etsy Price Performance

Etsy stock traded up $2.75 during mid-day trading on Tuesday, reaching $83.28. 2,816,760 shares of the stock traded hands, compared to its average volume of 3,319,241. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $83.36. The business's 50-day moving average is $69.12 and its 200-day moving average is $60.44. The stock has a market capitalization of $7.90 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 3.37 and a beta of 1.83.

Analysts Set New Price Targets

ETSY has been the subject of several analyst reports. Raymond James Financial lowered Etsy from an "outperform" rating to an "outperform" rating in a research note on Thursday, May 21st. BTIG Research lifted their target price on Etsy from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Morgan Stanley set a $64.00 price target on Etsy in a report on Wednesday, April 29th. Citigroup assumed coverage on Etsy in a research report on Thursday, May 21st. They issued an "outperform" rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on Etsy from $75.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $72.80.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ETSY. Smartleaf Asset Management LLC raised its holdings in Etsy by 10.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company's stock valued at $88,000 after acquiring an additional 158 shares during the period. Alamea Verwaltungs GmbH boosted its stake in shares of Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company's stock worth $370,000 after acquiring an additional 169 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Etsy by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company's stock worth $419,000 after purchasing an additional 180 shares in the last quarter. Blue Trust Inc. grew its position in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock worth $62,000 after purchasing an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Etsy by 6.6% during the 4th quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock valued at $185,000 after purchasing an additional 205 shares during the period. Hedge funds and other 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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