Etsy (NYSE:ETSY) Insider Josh Silverman Sells 11,696 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 11,696 shares of Etsy stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $81.85, for a total transaction of $957,317.60. Following the completion of the transaction, the insider directly owned 249,559 shares in the company, valued at approximately $20,426,404.15. This trade represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 3rd, Josh Silverman sold 1,671 shares of Etsy stock. The shares were sold at an average price of $84.00, for a total transaction of $140,364.00.
• On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total transaction of $528,696.00.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The stock was sold at an average price of $83.11, for a total transaction of $3,416,485.88.
• On Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total transaction of $3,093,719.00.
• On Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The shares were sold at an average price of $74.93, for a total transaction of $6,923,831.72.
• On Wednesday, June 24th, Josh Silverman sold 97,389 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total value of $7,693,731.00.
• On Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total value of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The shares were sold at an average price of $74.00, for a total value of $3,883,446.00.

Etsy Trading Up 0.2%

Shares of ETSY stock opened at $81.88 on Friday. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 2.04 and a beta of 1.81. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97. The stock’s fifty day simple moving average is $81.31 and its 200-day simple moving average is $67.25.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. During the same period in the prior year, the company posted $0.25 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that Etsy Inc will post 3.94 EPS for the current year.

Key Stories Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Zacks Research upgraded Etsy from “hold” to “strong-buy,” providing a positive technical and sentiment catalyst for the stock. Etsy investor conference announcement
• Positive Sentiment: Etsy will participate in the Goldman Sachs Communacopia and Technology Conference on September 9. Investors may look for updates on marketplace trends, growth initiatives and outlook during the webcast fireside chat, although no new financial guidance was provided. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Several executives and directors reported stock sales totaling roughly 36,280 shares. Josh Silverman sold 13,367 shares, director Frederick Wilson sold 20,000 shares, and Richard Edward Colburn III sold 2,913 shares. Silverman’s and Wilson’s transactions were executed under pre-arranged Rule 10b5-1 plans, while Colburn’s sale covered tax withholding tied to vested equity awards, reducing the likelihood that the trades signal deteriorating confidence. Etsy insider transaction filing
• Negative Sentiment: The insider transactions represent near-term selling pressure and may attract investor attention because they occurred around the $82–$84 range. However, the sellers retained substantial holdings, including Silverman’s approximately 249,559 shares and Wilson’s approximately 401,329 shares. Etsy director transaction filing

Wall Street Analyst Weigh In

Several research analysts have weighed in on ETSY shares. Citigroup upped their price objective on shares of Etsy from $60.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings lowered shares of Etsy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to an “outperform” rating in a report on Thursday, August 20th. Jefferies Financial Group upped their price target on shares of Etsy from $62.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Finally, Roth Capital initiated coverage on Etsy in a report on Thursday, May 21st. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Etsy presently has a consensus rating of “Moderate Buy” and an average price target of $84.68.

Institutional Investors Weigh In On Etsy

A number of large investors have recently bought and sold shares of the business. EFG International AG acquired a new position in Etsy during the fourth quarter worth $33,000. Global Retirement Partners LLC acquired a new stake in shares of Etsy in the second quarter worth about $34,000. Blue Trust Inc. boosted its stake in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares in the last quarter. Danske Bank A S bought a new stake in shares of Etsy during the 3rd quarter worth about $66,000. Finally, Federation des caisses Desjardins du Quebec increased its holdings in shares of Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

About Etsy

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.