Josh Silverman Sells 92,404 Shares of Etsy (NYSE:ETSY) Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 92,404 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $74.93, for a total transaction of $6,923,831.72. Following the transaction, the insider owned 139,884 shares in the company, valued at approximately $10,481,508.12. The trade was a 39.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Josh Silverman also recently made the following trade(s):

• 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 value of $7,693,731.00.
• 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 value 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 value 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 value 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 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 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 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 stock was sold at an average price of $59.00, for a total value of $1,433,464.00.

Etsy Price Performance

ETSY opened at $77.59 on Wednesday. The company has a market capitalization of $7.36 billion, a P/E ratio of 32.33, a P/E/G ratio of 3.12 and a beta of 1.83. The firm’s fifty day moving average price is $68.03 and its two-hundred day moving average price is $59.75. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $80.41.

Hedge Funds Weigh In On Etsy

Several large investors have recently bought and sold shares of ETSY. Renaissance Technologies LLC grew its position in shares of Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after buying an additional 594,768 shares during the period. AQR Capital Management LLC raised its position in shares of 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 acquiring an additional 1,177,301 shares during the period. Lone Pine Capital LLC bought a new position in Etsy during the 3rd quarter worth approximately $257,614,000. Van ECK Associates Corp boosted its stake in Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after acquiring an additional 39,067 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Etsy by 51.4% during the first 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 period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETSY has been the subject of several recent research reports. Evercore set a $72.00 price target on shares of Etsy in a research report on Wednesday, April 29th. UBS Group upgraded Etsy from a “neutral” rating to a “neutral” rating in a research note on Thursday, May 21st. President Capital raised Etsy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $91.00 in a report on Thursday, June 25th. Barclays boosted their price target on Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group upgraded Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.