Etsy (NYSE:ETSY) Insider Josh Silverman Sells 6,074 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 6,074 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $49.07, for a total value of $298,051.18. Following the transaction, the insider directly owned 130,694 shares in the company, valued at $6,413,154.58. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, February 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $53.26, for a total value of $1,153,931.16.

Etsy Trading Down 0.1%

NYSE:ETSY opened at $51.60 on Friday. Etsy Inc has a 52 week low of $40.05 and a 52 week high of $76.51. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 3.30 and a beta of 1.77. The business’s 50-day simple moving average is $52.35.

Etsy (NYSE:ETSY) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $881.64 million during the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%.

Etsy declared that its board has initiated a share buyback plan on Thursday, December 18th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 14.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Etsy

Large investors have recently added to or reduced their stakes in the business. Holocene Advisors LP lifted its position in shares of Etsy by 697.4% during the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the company’s stock valued at $268,045,000 after purchasing an additional 4,673,615 shares in the last quarter. AQR Capital Management LLC increased its stake in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after buying an additional 1,177,301 shares during the last quarter. Lone Pine Capital LLC purchased a new stake in Etsy in the 3rd quarter valued at about $257,614,000. Van ECK Associates Corp lifted its position in shares of Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after buying an additional 39,067 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Etsy by 3.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock worth $89,338,000 after buying an additional 59,123 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ETSY shares. Citigroup reiterated a “buy” rating on shares of Etsy in a report on Tuesday, December 30th. Wedbush decreased their price target on shares of Etsy from $72.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Stifel Nicolaus dropped their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Barclays upgraded shares of Etsy from an “equal weight” rating to an “overweight” rating and set a $72.00 price target on the stock in a report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Etsy from $63.00 to $54.00 and set a “hold” rating on the stock in a research note on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $60.80.

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.