Etsy (NYSE:ETSY) Insider Sells $3,416,485.88 in Stock

Key Points

• Etsy insider Josh Silverman sold 41,108 shares for approximately $3.42 million at an average price of $83.11 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 19.3% to 171,932 shares.
• Etsy shares rose 4.0% to $86.48, near the stock’s 52-week high of $87.26; the company has an $8.21 billion market capitalization and trades at a P/E ratio of 36.03.
• Wall Street’s consensus rating remains “Hold,” with an average price target of $75.36, despite some analysts raising targets or upgrading the stock; institutional investors own 99.53% of Etsy’s shares.

Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 41,108 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $83.11, for a total transaction of $3,416,485.88. Following the sale, the insider directly owned 171,932 shares of the company's stock, valued at $14,289,268.52. This represents a 19.30% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total value of $3,093,719.00.
• 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 value 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 value of $7,693,731.00.
• On Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total value of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The shares were 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 shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70.

Etsy Stock Up 4.0%

NYSE:ETSY traded up $3.31 during trading hours on Tuesday, reaching $86.48. 3,016,285 shares of the stock were exchanged, compared to its average volume of 3,234,977. The stock has a market capitalization of $8.21 billion, a P/E ratio of 36.03, a P/E/G ratio of 3.20 and a beta of 1.84. The firm has a 50 day simple moving average of $75.90 and a 200-day simple moving average of $63.07. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.26.

Institutional Investors Weigh In On Etsy

Several large investors have recently added to or reduced their stakes in ETSY. EFG International AG bought a new position in shares of Etsy during the fourth quarter worth about $33,000. Danske Bank A S bought a new stake in Etsy in the 3rd quarter valued at about $66,000. CoreCap Advisors LLC boosted its stake in Etsy by 2,379.1% during the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company's stock valued at $80,000 after purchasing an additional 1,023 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock valued at $67,000 after purchasing an additional 225 shares during the period. Finally, Blue Trust Inc. boosted its stake in Etsy by 19.3% during 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. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ETSY. Truist Financial lifted their price objective on shares of Etsy from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Argus upgraded shares of Etsy from a "hold" rating to a "buy" rating and set a $67.00 price target on the stock in a research report on Thursday, May 21st. BTIG Research lowered shares of Etsy from a "buy" rating to a "neutral" rating in a report on Thursday, July 16th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $80.00 price objective on shares of Etsy in a research report on Monday, July 20th. Finally, Canaccord Genuity Group boosted their price objective on shares of Etsy from $72.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Etsy currently has an average rating of "Hold" and an average price target of $75.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source