Insider Selling: Etsy (NYSE:ETSY) Insider Sells $6,923,831.72 in Stock

Key Points

• Etsy insider Josh Silverman sold 92,404 shares on July 1 at an average price of $74.93, for total proceeds of about $6.92 million. The filing says the sale was made under a pre-arranged Rule 10b5-1 plan and to cover tax withholding tied to equity award vesting.
• Silverman has been a frequent seller in recent weeks, including multiple transactions in June and April. After the latest sale, he still held 139,884 shares, though his position was reduced by nearly 40%.
• Etsy shares were trading around $75.24, near their 12-month high of $80.41, while analysts currently have a Hold consensus and an average price target of $71.80.

Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 92,404 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $74.93, for a total value of $6,923,831.72. Following the completion of the sale, the insider owned 139,884 shares of the company's stock, valued at approximately $10,481,508.12. This represents a 39.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 transaction 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 shares were 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 shares were sold at an average price of $59.00, for a total value of $1,433,464.00.

Etsy Stock Performance

Etsy stock traded down $1.73 during mid-day trading on Monday, reaching $75.24. 2,419,455 shares of the company were exchanged, compared to its average volume of 3,365,861. The firm's 50-day simple moving average is $67.49 and its two-hundred day simple moving average is $59.42. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $80.41. The firm has a market cap of $7.14 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 3.20 and a beta of 1.83.

Analysts Set New Price Targets

ETSY has been the topic of a number of analyst reports. Susquehanna lowered shares of Etsy to a "neutral" rating in a research report on Thursday, May 21st. The Goldman Sachs Group upgraded shares of Etsy from a "sell" rating to a "neutral" rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. lifted their target price on shares of Etsy from $75.00 to $78.00 and gave the company a "neutral" rating in a report on Friday, June 12th. Bank of America increased their price target on shares of Etsy from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Finally, Raymond James Financial lowered Etsy from an "outperform" rating to an "outperform" rating in a report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $71.80.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC lifted its stake in Etsy by 19.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company's stock valued at $282,000 after buying an additional 961 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Etsy by 55.5% in the first quarter. Empowered Funds LLC now owns 9,673 shares of the company's stock valued at $456,000 after acquiring an additional 3,451 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Etsy during the first quarter valued at $2,181,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Etsy by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company's stock valued at $180,000 after acquiring an additional 906 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in Etsy during the 2nd quarter worth about $232,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Company Profile

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.