Insider Selling: Etsy (NYSE:ETSY) Insider Sells $9,281,549.70 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 134,730 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.89, for a total value of $9,281,549.70. Following the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their ownership of the stock. The sale was disclosed in a 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 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $49.07, for a total value of $298,051.18.

Etsy Stock Down 0.2%

ETSY opened at $66.90 on Friday. The firm has a market cap of $6.35 billion, a PE ratio of 27.88, a P/E/G ratio of 2.77 and a beta of 1.88. The business has a fifty day simple moving average of $60.03 and a 200-day simple moving average of $56.59. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $76.51.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ETSY shares. Argus raised Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Thursday, May 21st. Jefferies Financial Group cut Etsy from a “hold” rating to a “hold” rating in a research report on Thursday, May 21st. Sanford C. Bernstein raised their target price on Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. Citigroup initiated coverage on Etsy in a research report on Thursday, May 21st. They issued an “outperform” rating for the company. Finally, Morgan Stanley set a $64.00 target price on Etsy in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average price target of $70.88.

Institutional Trading of Etsy

A number of institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in Etsy by 627.2% during the first quarter. Janus Henderson Group PLC now owns 279,407 shares of the company’s stock valued at $13,962,000 after purchasing an additional 240,986 shares during the last quarter. Smith Group Asset Management LLC acquired a new stake in Etsy during the first quarter valued at $532,000. California State Teachers Retirement System boosted its position in Etsy by 16.4% during the first quarter. California State Teachers Retirement System now owns 103,342 shares of the company’s stock valued at $5,165,000 after purchasing an additional 14,567 shares during the last quarter. Readystate Asset Management LP acquired a new stake in Etsy during the first quarter valued at $3,169,000. Finally, Quantinno Capital Management LP boosted its position in Etsy by 4.9% during the first quarter. Quantinno Capital Management LP now owns 533,497 shares of the company’s stock valued at $26,664,000 after purchasing an additional 25,026 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

About Etsy

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.