Insider Selling: Etsy, Inc. (NASDAQ:ETSY) CEO Sells 10,425 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 10,425 shares of Etsy stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $74.29, for a total value of $774,473.25. Following the sale, the chief executive officer now directly owns 14,674 shares in the company, valued at $1,090,131.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, August 2nd, Josh Silverman sold 20,850 shares of Etsy stock. The shares were sold at an average price of $95.57, for a total value of $1,992,634.50.
• On Wednesday, July 19th, Josh Silverman sold 20,850 shares of Etsy stock. The shares were sold at an average price of $95.35, for a total value of $1,988,047.50.
• On Wednesday, July 5th, Josh Silverman sold 10,425 shares of Etsy stock. The shares were sold at an average price of $83.80, for a total value of $873,615.00.
• On Wednesday, June 21st, Josh Silverman sold 20,850 shares of Etsy stock. The stock was sold at an average price of $95.33, for a total transaction of $1,987,630.50.
• On Wednesday, June 7th, Josh Silverman sold 10,425 shares of Etsy stock. The stock was sold at an average price of $89.24, for a total transaction of $930,327.00.

Etsy Stock Performance

NASDAQ ETSY traded up $1.07 on Friday, reaching $74.64. The company had a trading volume of 2,160,413 shares, compared to its average volume of 3,268,267. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of -12.81, a price-to-earnings-growth ratio of 3.67 and a beta of 2.00. Etsy, Inc. has a 1-year low of $71.28 and a 1-year high of $149.91. The company’s fifty day moving average is $85.03 and its 200-day moving average is $96.81.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.42. The firm had revenue of $628.88 million during the quarter, compared to analyst estimates of $621.87 million. Etsy had a negative net margin of 26.84% and a negative return on equity of 69.10%. On average, research analysts forecast that Etsy, Inc. will post 2.73 earnings per share for the current year.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Etsy by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 13,703,486 shares of the specialty retailer’s stock worth $1,703,069,000 after purchasing an additional 118,034 shares during the period. Capital International Investors boosted its stake in shares of Etsy by 21.4% during the 2nd quarter. Capital International Investors now owns 8,021,750 shares of the specialty retailer’s stock worth $678,720,000 after buying an additional 1,415,378 shares during the last quarter. Capital World Investors boosted its stake in shares of Etsy by 13.4% during the 1st quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock worth $429,669,000 after buying an additional 409,540 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Etsy by 8.2% during the 1st quarter. Clearbridge Investments LLC now owns 3,253,899 shares of the specialty retailer’s stock worth $362,257,000 after buying an additional 245,355 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Etsy by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,698,644 shares of the specialty retailer’s stock worth $227,749,000 after buying an additional 28,312 shares during the last quarter. 92.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on ETSY shares. The Goldman Sachs Group dropped their price objective on shares of Etsy from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, July 17th. Barclays dropped their price objective on shares of Etsy from $100.00 to $98.00 in a research report on Thursday, May 4th. Evercore ISI dropped their price objective on shares of Etsy from $140.00 to $120.00 in a research report on Thursday, May 4th. Jefferies Financial Group boosted their price objective on shares of Etsy from $75.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 25th. Finally, Piper Sandler dropped their target price on shares of Etsy from $140.00 to $126.00 and set an “overweight” rating for the company in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $118.43.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers 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.