Josh Silverman Sells 1,671 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 1,671 shares of Etsy stock in a transaction dated Thursday, September 3rd. The stock was 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 in the company, valued at approximately $20,962,956. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 shares were 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 shares were sold at an average price of $84.00, for a total transaction of $528,696.00.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The stock was sold at an average price of $83.11, for a total transaction 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 shares were 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 stock was sold at an average price of $79.00, for a total value of $7,693,731.00.
• 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 value of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The shares were sold at an average price of $74.00, for a total value of $3,883,446.00.

Etsy Stock Performance

Etsy stock opened at $76.39 on Friday. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The firm has a market capitalization of $7.25 billion, a P/E ratio of 42.68, a P/E/G ratio of 2.05 and a beta of 1.81. The company has a 50-day simple moving average of $81.28 and a 200-day simple moving average of $67.31.

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

Trending Headlines about Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Analyst support and upcoming conference: Etsy has a “Moderate Buy” consensus rating and an average price target of $84.68, while Morgan Stanley recently upgraded the stock to “outperform.” Management will also participate in the Goldman Sachs Communacopia and Technology Conference on September 9, giving investors an opportunity to hear updates on marketplace trends, growth initiatives and the outlook. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Post-earnings estimates are the next focus: About 30 days after its latest report, investors are watching whether earnings estimates can improve enough to support a rebound. Etsy exceeded revenue expectations with $668.31 million, compared with the $646.10 million consensus, but revenue declined 0.7% year over year and reported EPS of negative $0.49 missed the $0.75 estimate by a wide margin. Analysts currently expect approximately $3.94 in full-year EPS. Etsy Down Since Last Earnings Report
• Negative Sentiment: Insider selling may weigh on sentiment: Executives and directors disclosed sales totaling roughly 36,280 shares, including CEO Josh Silverman’s sales, director Frederick Wilson’s 20,000-share sale and Richard Colburn’s sale to cover tax withholding. Most transactions were made under pre-arranged Rule 10b5-1 plans, and the insiders retained sizable positions, reducing their value as a direct bearish signal; nevertheless, the cluster of sales creates near-term selling pressure and may raise investor concerns. Etsy Insider Selling Report

Analyst Ratings Changes

A number of research firms recently commented on ETSY. Arete Research set a $76.00 price objective on shares of Etsy and gave the company a “buy” rating in a research note on Wednesday, May 20th. Wells Fargo & Company upped their target price on Etsy from $61.00 to $76.00 and gave the stock an “underweight” rating in a research report on Friday, August 7th. Needham & Company LLC increased their price target on Etsy from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Truist Financial lifted their price target on Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Rosenblatt Securities started coverage on Etsy in a research report on Thursday, August 20th. They set a “buy” rating and a $95.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.68.

Institutional Trading of Etsy

A number of large investors have recently added to or reduced their stakes in ETSY. Corient Private Wealth LP grew its position in Etsy by 226.0% in the second quarter. Corient Private Wealth LP now owns 73,639 shares of the company’s stock worth $5,547,000 after buying an additional 51,050 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Etsy during the 2nd quarter valued at $1,612,000. California State Teachers Retirement System boosted its stake in shares of Etsy by 7,217.3% during the 2nd quarter. California State Teachers Retirement System now owns 7,561,851 shares of the company’s stock worth $569,634,000 after acquiring an additional 7,458,509 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Etsy during the 2nd quarter worth $675,000. Finally, Wedmont Private Capital acquired a new position in shares of Etsy in the 2nd quarter worth $243,000. 99.53% of the stock is currently owned by institutional investors.

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.