Etsy (NYSE:ETSY) Insider Josh Silverman Sells 12,148 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 12,148 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $54.00, for a total transaction of $655,992.00. Following the sale, the insider owned 130,694 shares of the company’s stock, valued at $7,057,476. The trade was a 8.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The stock was sold at an average price of $49.07, for a total transaction of $298,051.18.
• On Monday, February 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $53.26, for a total transaction of $1,153,931.16.

Etsy Stock Up 0.2%

Shares of NYSE:ETSY opened at $54.06 on Thursday. The company has a market capitalization of $5.20 billion, a PE ratio of 41.27, a price-to-earnings-growth ratio of 3.30 and a beta of 1.77. Etsy Inc has a 1-year low of $40.05 and a 1-year high of $76.51. The business’s 50 day simple moving average is $52.09.

Etsy (NYSE:ETSY) last issued its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The firm had revenue of $881.64 million during the quarter.

Etsy declared that its board has approved a share repurchase program on Thursday, December 18th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to reacquire up to 14.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently commented on ETSY. Morgan Stanley decreased their price objective on shares of Etsy from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, February 20th. Cantor Fitzgerald decreased their price objective on shares of Etsy from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Wall Street Zen downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Wells Fargo & Company cut their target price on shares of Etsy from $52.00 to $47.00 and set an “underweight” rating for the company in a research report on Friday, February 20th. Finally, Jefferies Financial Group cut their target price on shares of Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average target price of $60.80.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board raised its holdings in Etsy by 21.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 430,824 shares of the company’s stock worth $28,602,000 after acquiring an additional 75,295 shares during the period. Allianz Asset Management GmbH raised its holdings in Etsy by 1,648.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after acquiring an additional 666,253 shares during the period. Great Lakes Advisors LLC bought a new position in Etsy in the 3rd quarter worth $1,889,000. Lone Pine Capital LLC bought a new position in Etsy in the 3rd quarter worth $257,614,000. Finally, Picton Mahoney Asset Management raised its holdings in Etsy by 30.5% in the 3rd quarter. Picton Mahoney Asset Management now owns 95,008 shares of the company’s stock worth $6,307,000 after acquiring an additional 22,229 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily 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. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.