Josh Silverman Sells 39,161 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 39,161 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $79.00, for a total transaction of $3,093,719.00. Following the completion of the sale, the insider directly owned 139,884 shares in the company, valued at $11,050,836. This represents a 21.87% 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 Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The stock was 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 stock was sold at an average price of $79.00, for a total transaction 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 transaction 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 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 value 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 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.

Etsy Trading Up 3.3%

Shares of NYSE ETSY opened at $85.78 on Thursday. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 35.74, a price-to-earnings-growth ratio of 3.46 and a beta of 1.83. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $87.14. The business has a 50 day simple moving average of $69.95 and a 200-day simple moving average of $60.84.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Jefferies issued a positive forecast for Etsy, signaling continued confidence in the company’s outlook. Jefferies Financial Group Issues Positive Forecast for Etsy (NYSE:ETSY) Stock Price
• Positive Sentiment: The UK competition watchdog cleared eBay’s planned acquisition of Depop, removing a regulatory hurdle tied to Etsy’s resale-platform asset and reducing deal uncertainty around the transaction. UK watchdog clears eBay’s planned acquisition of Depop from Etsy
• Neutral Sentiment: JPMorgan raised its price target on Etsy, but kept a neutral rating and the new target still implies limited upside from current levels. Etsy had its price target raised by JPMorgan Chase & Co.
• Neutral Sentiment: Industry and lifestyle coverage around Etsy’s marketplace and community initiatives adds visibility, but does not appear to be a major stock driver. Etsy’s WNC craft partnership celebrated with Gov. Stein, wife
• Negative Sentiment: Insider selling by CEO Josh Silverman may weigh on sentiment, especially since he has now sold shares in multiple recent transactions. Etsy (NYSE:ETSY) Insider Josh Silverman Sells 39,161 Shares of Stock

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ETSY. Smartleaf Asset Management LLC grew its stake in shares of Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after purchasing an additional 158 shares during the last quarter. Alamea Verwaltungs GmbH raised its holdings in shares of Etsy by 2.3% in the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after purchasing an additional 169 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Etsy by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after purchasing an additional 180 shares during the last quarter. 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. Finally, GAMMA Investing LLC raised its position in shares of Etsy by 6.6% during the fourth quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock worth $185,000 after purchasing an additional 205 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of recent research reports. Argus upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Thursday, May 21st. Morgan Stanley set a $64.00 price objective on shares of Etsy in a research report on Wednesday, April 29th. Citigroup initiated coverage on shares of Etsy in a research note on Thursday, May 21st. They set an “outperform” rating on the stock. Cantor Fitzgerald raised their target price on shares of Etsy from $51.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Finally, Truist Financial lifted their target price on Etsy from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.08.

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.