Etsy (NYSE:ETSY) Insider Josh Silverman Sells 2,090 Shares of Company Stock

Key Points

• Etsy insider Josh Silverman sold 2,090 shares on October 1 at an average price of $72.45, generating $151,420.50. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 262,617 shares.
• Etsy shares fell 2.4% to $71.04, while the company’s latest quarterly results showed a loss of $0.49 per share despite revenue of $668.31 million, which exceeded estimates.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $86.21; 99.53% of Etsy shares are held by institutional investors and hedge funds.

Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 2,090 shares of Etsy stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $72.45, for a total value of $151,420.50. Following the completion of the transaction, the insider directly owned 262,617 shares of the company's stock, valued at $19,026,601.65. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Tuesday, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The shares were sold at an average price of $81.85, for a total value of $957,317.60.
• On Thursday, September 3rd, Josh Silverman sold 1,671 shares of Etsy stock. The shares were sold at an average price of $84.00, for a total value of $140,364.00.
• On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The shares were sold at an average price of $84.00, for a total transaction of $528,696.00.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The stock was sold at an average price of $83.11, for a total transaction of $3,416,485.88.
• On Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total value of $3,093,719.00.

Etsy Trading Down 2.4%

Shares of ETSY stock traded down $1.73 on Monday, reaching $71.04. The company had a trading volume of 2,946,645 shares, compared to its average volume of 3,249,205. The stock has a market cap of $6.74 billion, a PE ratio of 39.69, a PEG ratio of 1.82 and a beta of 1.86. The company has a 50-day moving average of $78.30 and a 200-day moving average of $70.22. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.97.

Etsy (NYSE:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. During the same period in the previous year, the business posted $0.25 EPS. The business's quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current year.

Institutional Trading of Etsy

A number of hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its position in shares of Etsy by 10.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,584 shares of the company's stock valued at $345,000 after buying an additional 429 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of Etsy by 56.2% in the 2nd quarter. Engineers Gate Manager LP now owns 77,568 shares of the company's stock valued at $5,843,000 after purchasing an additional 27,908 shares during the last quarter. Baird Financial Group Inc. bought a new position in Etsy during the second quarter worth $226,000. Allworth Financial LP boosted its position in Etsy by 37.8% during the second quarter. Allworth Financial LP now owns 1,808 shares of the company's stock valued at $136,000 after acquiring an additional 496 shares during the last quarter. Finally, Empirical Finance LLC acquired a new stake in Etsy during the 2nd quarter worth about $267,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ETSY. Rosenblatt Securities started coverage on shares of Etsy in a report on Thursday, August 20th. They issued a "buy" rating and a $95.00 price target on the stock. Bank of America raised Etsy from a "neutral" rating to a "buy" rating and upped their target price for the company from $88.00 to $95.00 in a research report on Thursday, August 20th. B. Riley Financial lifted their price target on Etsy from $75.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Weiss Ratings downgraded Etsy from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Finally, UBS Group upped their price objective on Etsy from $74.00 to $86.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $86.21.

Etsy Company Profile

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.

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