Etsy (NYSE:ETSY) Insider Josh Silverman Sells 97,389 Shares of Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 97,389 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $79.00, for a total value of $7,693,731.00. Following the transaction, the insider directly owned 130,694 shares in the company, valued at $10,324,826. This trade represents a 42.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The shares were sold at an average price of $72.50, for a total transaction of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The stock was sold at an average price of $74.00, for a total transaction of $3,883,446.00.
• On Monday, June 1st, Josh Silverman sold 134,730 shares of Etsy stock. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70.
• On Friday, May 1st, Josh Silverman sold 88,350 shares of Etsy stock. The shares were sold at an average price of $64.18, for a total transaction of $5,670,303.00.
• On Wednesday, April 29th, Josh Silverman sold 36,443 shares of Etsy stock. The shares were sold at an average price of $69.00, for a total transaction of $2,514,567.00.
• On Tuesday, April 21st, Josh Silverman sold 70,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total transaction of $4,550,000.00.
• On Monday, April 20th, Josh Silverman sold 30,369 shares of Etsy stock. The shares were sold at an average price of $64.00, for a total transaction of $1,943,616.00.
• On Thursday, April 16th, Josh Silverman sold 24,296 shares of Etsy stock. The shares were sold at an average price of $59.00, for a total value of $1,433,464.00.
• On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The stock was sold at an average price of $54.00, for a total value of $655,992.00.
• On Wednesday, April 1st, Josh Silverman sold 6,074 shares of Etsy stock. The shares were sold at an average price of $49.07, for a total value of $298,051.18.

Etsy Stock Down 0.3%

Shares of NYSE ETSY opened at $77.80 on Friday. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $79.90. The business has a 50 day moving average price of $65.80 and a two-hundred day moving average price of $58.47. The firm has a market cap of $7.38 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 3.11 and a beta of 1.88.

Hedge Funds Weigh In On Etsy

A number of hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in Etsy by 5.7% during the first quarter. Pacer Advisors Inc. now owns 488,585 shares of the company’s stock valued at $24,419,000 after purchasing an additional 26,257 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Etsy by 627.2% in the 1st quarter. Janus Henderson Group PLC now owns 279,407 shares of the company’s stock worth $13,962,000 after buying an additional 240,986 shares during the last quarter. Smith Group Asset Management LLC bought a new position in shares of Etsy in the 1st quarter worth about $532,000. California State Teachers Retirement System boosted its holdings in shares of Etsy by 16.4% in the 1st quarter. California State Teachers Retirement System now owns 103,342 shares of the company’s stock valued at $5,165,000 after buying an additional 14,567 shares during the period. Finally, Readystate Asset Management LP acquired a new position in shares of Etsy in the 1st quarter valued at about $3,169,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ETSY shares. Citigroup initiated coverage on shares of Etsy in a research report on Thursday, May 21st. They set an “outperform” rating for the company. Canaccord Genuity Group increased their price objective on shares of Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Jefferies Financial Group lowered shares of Etsy from a “hold” rating to a “hold” rating in a report on Thursday, May 21st. Morgan Stanley set a $64.00 target price on shares of Etsy in a research report on Wednesday, April 29th. Finally, Arete Research set a $76.00 target price on shares of Etsy and gave the company a “buy” rating in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Etsy has an average rating of “Hold” and an average target price of $71.80.

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.