Etsy (NYSE:ETSY) Insider Sells 1,671 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 1,671 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $84.00, for a total value of $140,364.00. Following the sale, the insider directly owned 249,559 shares of the company’s stock, valued at approximately $20,962,956. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a document filed 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 Tuesday, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The stock was sold at an average price of $81.85, for a total value of $957,317.60.
• On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total value of $528,696.00.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The shares were sold at an average price of $83.11, for a total value of $3,416,485.88.
• On Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total value of $3,093,719.00.
• On Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The stock was sold at an average price of $74.93, for a total transaction of $6,923,831.72.
• 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.

Etsy Stock Up 0.2%

Shares of Etsy stock traded up $0.16 during trading hours on Thursday, hitting $81.88. The company’s stock had a trading volume of 2,628,958 shares, compared to its average volume of 3,233,756. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97. The business has a fifty day moving average of $81.31 and a 200 day moving average of $67.25. The company has a market capitalization of $7.77 billion, a PE ratio of 45.74, a P/E/G ratio of 2.04 and a beta of 1.81.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. On average, sell-side analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its stake in shares of Etsy by 19.1% in the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after acquiring an additional 961 shares in the last quarter. Empowered Funds LLC grew its stake in Etsy by 55.5% during the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after purchasing an additional 3,451 shares in the last quarter. Woodline Partners LP purchased a new stake in Etsy during the 1st quarter worth approximately $2,181,000. Northwestern Mutual Wealth Management Co. increased its holdings in Etsy by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after purchasing an additional 906 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Etsy in the 2nd quarter valued at approximately $232,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Jefferies Financial Group boosted their price objective on Etsy from $62.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. UBS Group raised their target price on Etsy from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Canaccord Genuity Group set a $92.00 price target on Etsy in a research report on Thursday, August 6th. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Morgan Stanley raised shares of Etsy from an “underweight” rating to an “outperform” rating in a research report on Thursday, August 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.68.

More Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Zacks Research upgraded Etsy from “hold” to “strong-buy,” providing a positive technical and sentiment catalyst for the stock. Etsy investor conference announcement
• Positive Sentiment: Etsy will participate in the Goldman Sachs Communacopia and Technology Conference on September 9. Investors may look for updates on marketplace trends, growth initiatives and outlook during the webcast fireside chat, although no new financial guidance was provided. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Several executives and directors reported stock sales totaling roughly 36,280 shares. Josh Silverman sold 13,367 shares, director Frederick Wilson sold 20,000 shares, and Richard Edward Colburn III sold 2,913 shares. Silverman’s and Wilson’s transactions were executed under pre-arranged Rule 10b5-1 plans, while Colburn’s sale covered tax withholding tied to vested equity awards, reducing the likelihood that the trades signal deteriorating confidence. Etsy insider transaction filing
• Negative Sentiment: The insider transactions represent near-term selling pressure and may attract investor attention because they occurred around the $82–$84 range. However, the sellers retained substantial holdings, including Silverman’s approximately 249,559 shares and Wilson’s approximately 401,329 shares. Etsy director transaction filing

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.