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

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 97,389 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at $10,324,826. This represents a 42.70% decrease in their position. The sale was disclosed in a legal 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 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 value of $3,883,446.00.
• On Monday, June 1st, Josh Silverman sold 134,730 shares of Etsy stock. The shares were sold at an average price of $68.89, for a total value 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 value of $5,670,303.00.
• On Wednesday, April 29th, Josh Silverman sold 36,443 shares of Etsy stock. The stock was sold at an average price of $69.00, for a total value 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 shares were 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 Price Performance

Shares of ETSY stock opened at $78.03 on Friday. Etsy Inc has a one year low of $44.00 and a one year high of $79.90. The stock has a fifty day moving average price of $66.20 and a 200 day moving average price of $58.61. The stock has a market cap of $7.41 billion, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 3.10 and a beta of 1.88.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently added to or reduced their stakes in ETSY. EFG International AG bought a new position in shares of Etsy in the fourth quarter worth about $33,000. Blue Trust Inc. grew its stake in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares during the last quarter. Danske Bank A S bought a new stake in shares of Etsy during the third quarter valued at approximately $66,000. Federation des caisses Desjardins du Quebec increased its holdings in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after purchasing an additional 225 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $79,000. Institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, April 30th. Jefferies Financial Group cut shares of Etsy from a “hold” rating to a “hold” rating in a research note on Thursday, May 21st. Morgan Stanley set a $64.00 price target on shares of Etsy in a research note on Wednesday, April 29th. B. Riley Financial downgraded Etsy from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $70.00 to $75.00 in a report on Thursday, April 30th. Finally, Citigroup started coverage on Etsy in a research note on Thursday, May 21st. They issued an “outperform” rating on the stock. Two equities research 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 data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $71.80.

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.