Insider Selling: Etsy (NYSE:ETSY) Insider Sells 30,369 Shares of Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 30,369 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $64.00, for a total value of $1,943,616.00. Following the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $8,364,416. This trade represents a 18.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 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.
• On Monday, February 2nd, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $53.26, for a total value of $1,153,931.16.

Etsy Price Performance

NYSE ETSY traded up $2.33 on Monday, hitting $64.23. 2,875,038 shares of the stock traded hands, compared to its average volume of 3,467,465. The stock’s fifty day simple moving average is $52.43. Etsy Inc has a 12 month low of $41.51 and a 12 month high of $76.51. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 49.03, a price-to-earnings-growth ratio of 4.04 and a beta of 1.77.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.The business had revenue of $881.64 million during the quarter. On average, analysts forecast that Etsy Inc will post 3.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on ETSY shares. Cantor Fitzgerald cut their price objective on shares of Etsy from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Jefferies Financial Group cut their price objective on shares of Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, February 12th. Needham & Company LLC cut their price objective on shares of Etsy from $76.00 to $65.00 and set a “buy” rating for the company in a report on Friday, February 20th. Barclays raised shares of Etsy from an “equal weight” rating to an “overweight” rating and set a $72.00 price objective for the company in a report on Thursday, February 19th. Finally, Stifel Nicolaus cut their price objective on shares of Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Etsy presently has an average rating of “Hold” and a consensus target price of $61.67.

Hedge Funds Weigh In On Etsy

A number of large investors have recently modified their holdings of ETSY. Lone Pine Capital LLC bought a new stake in shares of Etsy during the 3rd quarter valued at about $257,614,000. SG Americas Securities LLC boosted its position in shares of Etsy by 717.7% during the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after acquiring an additional 1,314,071 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Etsy by 40.1% during 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 last quarter. Allianz Asset Management GmbH boosted its position in shares of Etsy by 1,648.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock valued at $46,916,000 after acquiring an additional 666,253 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Etsy during the 4th quarter valued at about $33,903,000. 99.53% of the stock is currently owned by institutional investors.

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.