Etsy (NYSE:ETSY) Insider Josh Silverman Sells 383 Shares of Company Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 383 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $74.00, for a total value of $28,342.00. Following the transaction, the insider directly owned 262,234 shares in the company, valued at $19,405,316. The trade was a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Thursday, October 1st, Josh Silverman sold 2,090 shares of Etsy stock. The shares were sold at an average price of $72.45, for a total value of $151,420.50.
• 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 Thursday, September 3rd, Josh Silverman sold 1,671 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total value of $140,364.00.
• 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 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 transaction of $3,416,485.88.

Etsy Trading Up 2.2%

Shares of Etsy stock opened at $76.79 on Friday. The firm has a fifty day simple moving average of $77.20 and a 200-day simple moving average of $70.78. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 1.88 and a beta of 1.86.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ETSY. Headlands Technologies LLC bought a new position in shares of Etsy during the second quarter valued at $1,045,000. Ieq Capital LLC bought a new stake in shares of Etsy in the 2nd quarter worth about $4,083,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Etsy during the 2nd quarter worth about $6,466,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Etsy during the 2nd quarter worth about $2,144,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Etsy during the 2nd quarter worth about $18,602,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on ETSY shares. Sanford C. Bernstein upgraded Etsy from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 11th. Raymond James Financial raised their target price on Etsy from $75.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Canaccord Genuity Group set a $92.00 price target on Etsy in a research report on Thursday, August 6th. Oppenheimer upgraded Etsy from a “market perform” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Tuesday, September 15th. Finally, Jefferies Financial Group increased their price objective on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.21.

About Etsy

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.