Josh Silverman Sells 52,479 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSYGet Free Report) insider Josh Silverman sold 52,479 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $74.00, for a total transaction of $3,883,446.00. Following the completion of the sale, the insider owned 130,694 shares in the company, valued at $9,671,356. This represents a 28.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 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 transaction of $3,625,000.00.
  • 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.
  • 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 value 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 shares were sold at an average price of $59.00, for a total value of $1,433,464.00.
  • On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The shares were sold at an average price of $54.00, for a total value of $655,992.00.
  • On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The shares were sold at an average price of $49.07, for a total value of $298,051.18.

Etsy Stock Performance

Shares of NYSE:ETSY opened at $74.03 on Friday. The stock’s 50-day simple moving average is $63.69 and its two-hundred day simple moving average is $57.71. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 2.90 and a beta of 1.88. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $76.51.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ETSY shares. Wells Fargo & Company boosted their target price on shares of Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Roth Mkm started coverage on shares of Etsy in a research report on Thursday, May 21st. They issued a “buy” rating on the stock. Canaccord Genuity Group lifted their price target on shares of Etsy from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Finally, Raymond James Financial lowered Etsy from an “outperform” rating to an “outperform” rating in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $71.00.

Check Out Our Latest Analysis on Etsy

Etsy News Roundup

Here are the key news stories impacting Etsy this week:

  • Positive Sentiment: Etsy received a notable upgrade from Zacks Research, which moved the stock from hold to strong-buy, adding to bullish sentiment around the name. Zacks upgrade reference
  • Positive Sentiment: The company launched its “Shop Other Jeffs” campaign ahead of Amazon Prime Day, a high-visibility marketing effort that could boost brand awareness and drive traffic to Etsy sellers. Article title
  • Positive Sentiment: The campaign is getting broad media attention, which may help Etsy stay top-of-mind with shoppers during a key retail event period. Article title
  • Neutral Sentiment: Recent articles noted Etsy’s strong short-term stock performance, but several pieces were primarily valuation commentary rather than new business catalysts. Article title
  • Neutral Sentiment: Another valuation-focused report argued Etsy could be overvalued, reflecting debate over whether the recent rally has outpaced fundamentals. Article title
  • Negative Sentiment: CEO Josh Silverman sold 50,000 shares, and a second filing showed an additional 52,479 shares sold, which can weigh on sentiment even though both trades were made under a pre-arranged 10b5-1 plan. SEC filing

Hedge Funds Weigh In On Etsy

Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in Etsy by 5.7% in the 1st quarter. Pacer Advisors Inc. now owns 488,585 shares of the company’s stock worth $24,419,000 after buying an additional 26,257 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Etsy by 627.2% in the first quarter. Janus Henderson Group PLC now owns 279,407 shares of the company’s stock valued at $13,962,000 after acquiring an additional 240,986 shares in the last quarter. Smith Group Asset Management LLC purchased a new position in shares of Etsy in the first quarter valued at about $532,000. California State Teachers Retirement System boosted its stake in shares of Etsy by 16.4% in the first quarter. California State Teachers Retirement System now owns 103,342 shares of the company’s stock worth $5,165,000 after acquiring an additional 14,567 shares during the period. Finally, Readystate Asset Management LP bought a new position in shares of Etsy in the first quarter worth about $3,169,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

About Etsy

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Etsy (NYSE:ETSY)

Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.