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

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $61.46, for a total transaction of $1,331,592.36. Following the transaction, the chief executive officer owned 78,946 shares in the company, valued at $4,852,021.16. The trade was a 21.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, October 1st, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $70.19, for a total transaction of $1,520,736.54.
• On Monday, September 29th, Josh Silverman sold 150,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total transaction of $10,875,000.00.
• On Thursday, September 18th, Josh Silverman sold 70,000 shares of Etsy stock. The shares were sold at an average price of $65.00, for a total transaction of $4,550,000.00.
• On Monday, September 8th, Josh Silverman sold 65,000 shares of Etsy stock. The stock was sold at an average price of $57.50, for a total transaction of $3,737,500.00.
• On Tuesday, September 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $51.61, for a total transaction of $1,118,182.26.

Etsy Stock Down 4.3%

Shares of ETSY stock opened at $58.46 on Wednesday. The firm has a fifty day moving average of $64.52 and a 200-day moving average of $58.31. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.51. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 47.15, a P/E/G ratio of 10.65 and a beta of 1.85.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. On average, equities analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of ETSY. Heritage Wealth Advisors raised its stake in Etsy by 476.5% in the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 405 shares in the last quarter. Signaturefd LLC increased its holdings in Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 192 shares during the period. Allworth Financial LP increased its holdings in Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 248 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Etsy in the 2nd quarter valued at about $35,000. Finally, SVB Wealth LLC bought a new position in Etsy in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of recent analyst reports. BTIG Research increased their price target on shares of Etsy from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Cantor Fitzgerald restated a “neutral” rating and set a $64.00 target price on shares of Etsy in a research note on Thursday, October 30th. Arete Research upgraded shares of Etsy from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 7th. Moffett Nathanson restated a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. Finally, Sanford C. Bernstein raised their target price on shares of Etsy from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus price target of $64.24.

Etsy Company Profile

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.