Josh Silverman Sells 21,666 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $51.37, for a total value of $1,112,982.42. Following the transaction, the chief executive officer owned 62,674 shares of the company's stock, valued at $3,219,563.38. The trade was a 25.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, June 2nd, Josh Silverman sold 151,666 shares of Etsy stock. The stock was sold at an average price of $57.68, for a total value of $8,748,094.88.
• On Thursday, May 1st, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $43.09, for a total value of $933,587.94.

Etsy Stock Up 2.7%

NASDAQ ETSY traded up $1.44 during trading hours on Friday, reaching $54.40. The company's stock had a trading volume of 4,307,775 shares, compared to its average volume of 4,319,285. The firm's 50-day moving average price is $51.81 and its 200-day moving average price is $50.72. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.81. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 2.99 and a beta of 1.74.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The business had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ETSY. AQR Capital Management LLC increased its stake in Etsy by 423.7% in the 1st quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock worth $218,890,000 after acquiring an additional 3,768,787 shares during the last quarter. Acadian Asset Management LLC increased its stake in Etsy by 112.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock worth $132,273,000 after acquiring an additional 1,486,142 shares during the last quarter. Norges Bank bought a new stake in Etsy in the 4th quarter worth approximately $74,235,000. Victory Capital Management Inc. increased its stake in Etsy by 703.8% in the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after acquiring an additional 711,572 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Etsy by 36.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock worth $95,599,000 after acquiring an additional 535,864 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ETSY. Arete downgraded Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price objective for the company. in a report on Wednesday, June 11th. Loop Capital reduced their price objective on Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a report on Thursday, May 1st. Evercore ISI cut their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Truist Financial boosted their price target on Etsy from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Canaccord Genuity Group cut their price target on Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $49.91.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.