Etsy (NASDAQ:ETSY) CEO Sells $1,520,736.54 in Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $70.19, for a total value of $1,520,736.54. Following the sale, the chief executive officer owned 62,674 shares in the company, valued at $4,399,088.06. This trade represents a 25.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, September 29th, Josh Silverman sold 150,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total value of $10,875,000.00.
• On Thursday, September 18th, Josh Silverman sold 70,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total value of $4,550,000.00.
• On Monday, September 8th, Josh Silverman sold 65,000 shares of Etsy stock. The stock was sold at an average price of $57.50, for a total value of $3,737,500.00.
• On Tuesday, September 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $51.61, for a total value of $1,118,182.26.
• On Friday, August 1st, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $58.76, for a total value of $1,273,094.16.
• On Thursday, July 24th, Josh Silverman sold 140,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total value of $9,100,000.00.

Etsy Stock Down 0.2%

ETSY stock opened at $72.38 on Friday. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $76.52. The stock’s fifty day simple moving average is $61.07 and its 200-day simple moving average is $54.38. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 58.37, a price-to-earnings-growth ratio of 4.61 and a beta of 1.85.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business had revenue of $672.66 million for the quarter, compared to analyst estimates of $645.16 million. During the same quarter last year, the business earned $0.41 EPS. Etsy’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Etsy

Hedge funds have recently bought and sold shares of the company. Heritage Wealth Advisors grew its stake in Etsy by 476.5% in the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 405 shares in the last quarter. Signaturefd LLC grew its stake in Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares in the last quarter. Allworth Financial LP grew its stake in Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 248 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Etsy in the second quarter valued at approximately $35,000. Finally, SVB Wealth LLC acquired a new position in Etsy in the first quarter valued at approximately $36,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETSY has been the topic of several research reports. Wells Fargo & Company increased their target price on Etsy from $41.00 to $57.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. BTIG Research increased their target price on Etsy from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday. Canaccord Genuity Group set a $76.00 target price on Etsy in a research report on Wednesday, July 30th. Sanford C. Bernstein increased their target price on Etsy from $45.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, July 17th. Finally, Barclays reaffirmed a “positive” rating and issued a $60.00 target price (up from $52.00) on shares of Etsy in a research report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.69.

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.