Insider Selling: Etsy (NYSE:ETSY) Insider Sells $3,883,446.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 52,479 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $74.00, for a total transaction of $3,883,446.00. Following the completion of the transaction, the insider owned 130,694 shares of the company’s stock, valued at $9,671,356. This represents a 28.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $72.50, for a total transaction of $3,625,000.00.
• 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 value of $4,550,000.00.
• On Monday, April 20th, Josh Silverman sold 30,369 shares of Etsy stock. The stock was sold at an average price of $64.00, for a total value 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 stock was sold at an average price of $49.07, for a total value of $298,051.18.

Etsy Stock Performance

Etsy stock opened at $74.03 on Friday. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $76.51. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 2.95 and a beta of 1.88. The stock’s fifty day moving average is $64.09 and its two-hundred day moving average is $57.82.

Hedge Funds Weigh In On Etsy

Institutional investors have recently added to or reduced their stakes in the business. EFG International AG acquired a new stake in Etsy in the 4th quarter worth about $33,000. Blue Trust Inc. increased 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 valued at $62,000 after acquiring an additional 200 shares during the last quarter. Danske Bank A S acquired a new position in shares of Etsy during the 3rd quarter valued at about $66,000. Federation des caisses Desjardins du Quebec lifted 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 worth $67,000 after acquiring an additional 225 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Etsy during the 4th quarter worth about $79,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Canaccord Genuity Group lifted their price objective on Etsy from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Cantor Fitzgerald increased their target price on Etsy from $51.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Sanford C. Bernstein raised their price target on Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. Finally, Bank of America boosted their price target on Etsy from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.00.

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.