Insider Selling: Etsy (NYSE:ETSY) Insider Sells $3,625,000.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 50,000 shares of Etsy stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $72.50, for a total transaction of $3,625,000.00. Following the completion of the transaction, the insider owned 130,694 shares in the company, valued at approximately $9,475,315. This trade represents a 27.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 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.
• 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 transaction of $9,281,549.70.
• On Friday, May 1st, Josh Silverman sold 88,350 shares of Etsy stock. The stock was 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 transaction of $2,514,567.00.
• On Tuesday, April 21st, Josh Silverman sold 70,000 shares of Etsy stock. The shares were 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 shares were 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 transaction 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 transaction 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 Up 0.1%

ETSY opened at $74.03 on Friday. The stock’s 50 day moving average price is $64.09 and its two-hundred day moving average price is $57.82. The firm has a market capitalization of $7.02 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 2.95 and a beta of 1.88. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $76.51.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ETSY. Stifel Nicolaus dropped their target price on Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a report on Friday, February 20th. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. The Goldman Sachs Group upgraded Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. lifted their price objective on Etsy from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Finally, Morgan Stanley set a $64.00 target price on shares of Etsy in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Etsy currently has a consensus rating of “Hold” and an average price target of $71.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Lone Pine Capital LLC bought a new stake in Etsy during the 3rd quarter worth approximately $257,614,000. SG Americas Securities LLC raised its position in Etsy by 717.7% in the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after purchasing an additional 1,314,071 shares during the last quarter. AQR Capital Management LLC raised its position in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after purchasing an additional 1,177,301 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after purchasing an additional 1,112,520 shares during the last quarter. Finally, Norges Bank acquired a new position in Etsy in the fourth quarter worth $33,903,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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.