Josh Silverman Sells 21,666 Shares of Etsy (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $61.46, for a total transaction of $1,331,592.36. Following the sale, the chief executive officer directly owned 78,946 shares of the company’s stock, valued at approximately $4,852,021.16. The trade was a 21.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, October 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $70.19, for a total transaction of $1,520,736.54.
• On Monday, September 29th, Josh Silverman sold 150,000 shares of Etsy stock. The shares were sold at an average price of $72.50, for a total transaction of $10,875,000.00.
• On Thursday, September 18th, Josh Silverman sold 70,000 shares of Etsy stock. The shares were sold at an average price of $65.00, for a total transaction of $4,550,000.00.
• On Monday, September 8th, Josh Silverman sold 65,000 shares of Etsy stock. The shares were sold at an average price of $57.50, for a total transaction of $3,737,500.00.
• On Tuesday, September 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $51.61, for a total transaction of $1,118,182.26.

Etsy Trading Down 4.3%

Shares of Etsy stock traded down $2.62 during midday trading on Tuesday, reaching $58.46. The company had a trading volume of 3,949,492 shares, compared to its average volume of 5,081,328. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $76.51. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 47.15, a price-to-earnings-growth ratio of 10.65 and a beta of 1.85. The stock has a fifty day simple moving average of $64.47 and a 200 day simple moving average of $58.21.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company had revenue of $678.03 million for the quarter, compared to the consensus estimate of $655.83 million. During the same quarter in the prior year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ETSY. Needham & Company LLC boosted their target price on Etsy from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Stifel Nicolaus boosted their price objective on shares of Etsy from $45.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. B. Riley reissued a “buy” rating on shares of Etsy in a research report on Thursday, October 30th. Jefferies Financial Group lifted their target price on Etsy from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Finally, The Goldman Sachs Group increased their price target on Etsy from $48.00 to $57.00 and gave the stock a “sell” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.24.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently modified their holdings of ETSY. Heritage Wealth Advisors grew its position in Etsy by 476.5% in the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 405 shares in the last quarter. Signaturefd LLC grew its position in Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 192 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Etsy in the second quarter valued at $35,000. SVB Wealth LLC bought a new position in Etsy in the first quarter valued at $36,000. Finally, Salomon & Ludwin LLC bought a new position in Etsy in the third quarter valued at $55,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Company Profile

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, and France. 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.