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

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $51.37, for a total transaction of $1,112,982.42. Following the completion of the sale, the chief executive officer owned 62,674 shares of the company’s stock, valued at approximately $3,219,563.38. The trade was a 25.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, June 2nd, Josh Silverman sold 151,666 shares of Etsy stock. The shares were sold at an average price of $57.68, for a total transaction of $8,748,094.88.
• On Thursday, May 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $43.09, for a total value of $933,587.94.

Etsy Price Performance

NASDAQ ETSY opened at $54.40 on Friday. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $66.81. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 2.91 and a beta of 1.74. The business’s fifty day moving average price is $51.64 and its 200-day moving average price is $50.85.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The business had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. During the same period last year, the company earned $0.48 EPS. The business’s revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ETSY shares. Stifel Nicolaus cut their price target on shares of Etsy from $51.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Arete Research upgraded shares of Etsy to a “strong sell” rating in a report on Wednesday, June 11th. Arete cut shares of Etsy from a “neutral” rating to a “sell” rating and set a $43.00 target price for the company. in a research report on Wednesday, June 11th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Wednesday, April 30th. Finally, Truist Financial raised their price objective on shares of Etsy from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.91.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC increased its holdings in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC purchased a new position in Etsy in the fourth quarter worth about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Etsy during the fourth quarter worth approximately $34,000. Finally, Allworth Financial LP raised its position in Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 248 shares during the period. Institutional investors own 99.53% of the company’s stock.

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, 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.