Insider Selling: Etsy (NYSE:ETSY) Insider Sells $140,364.00 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 1,671 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $84.00, for a total value of $140,364.00. Following the transaction, the insider directly owned 249,559 shares in the company, valued at $20,962,956. This represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The stock was sold at an average price of $81.85, for a total transaction of $957,317.60.
• On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total transaction of $528,696.00.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The shares were sold at an average price of $83.11, for a total transaction of $3,416,485.88.
• On Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total transaction of $3,093,719.00.
• 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 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.

Etsy Stock Up 0.2%

NYSE ETSY traded up $0.16 during mid-day trading on Thursday, hitting $81.88. The stock had a trading volume of 2,628,958 shares, compared to its average volume of 3,233,756. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 2.04 and a beta of 1.81. The company has a 50 day simple moving average of $81.31 and a 200 day simple moving average of $67.25.

Etsy (NYSE:ETSY) last posted its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The firm had revenue of $668.31 million for the quarter, compared to analysts’ expectations of $646.10 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after purchasing an additional 158 shares during the period. Alamea Verwaltungs GmbH raised its stake in Etsy by 2.3% during the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after purchasing an additional 169 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Etsy by 2.4% in the 4th 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 holdings in shares of Etsy by 19.3% in the 1st 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. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Etsy by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock valued at $1,250,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Loop Capital set a $105.00 price objective on Etsy in a research note on Thursday, August 20th. Wall Street Zen downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Rosenblatt Securities began coverage on shares of Etsy in a research note on Thursday, August 20th. They set a “buy” rating and a $95.00 price objective on the stock. UBS Group lifted their target price on shares of Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded Etsy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.68.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Zacks Research upgraded Etsy from “hold” to “strong-buy,” providing a positive technical and sentiment catalyst for the stock. Etsy investor conference announcement
• Positive Sentiment: Etsy will participate in the Goldman Sachs Communacopia and Technology Conference on September 9. Investors may look for updates on marketplace trends, growth initiatives and outlook during the webcast fireside chat, although no new financial guidance was provided. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Several executives and directors reported stock sales totaling roughly 36,280 shares. Josh Silverman sold 13,367 shares, director Frederick Wilson sold 20,000 shares, and Richard Edward Colburn III sold 2,913 shares. Silverman’s and Wilson’s transactions were executed under pre-arranged Rule 10b5-1 plans, while Colburn’s sale covered tax withholding tied to vested equity awards, reducing the likelihood that the trades signal deteriorating confidence. Etsy insider transaction filing
• Negative Sentiment: The insider transactions represent near-term selling pressure and may attract investor attention because they occurred around the $82–$84 range. However, the sellers retained substantial holdings, including Silverman’s approximately 249,559 shares and Wilson’s approximately 401,329 shares. Etsy director transaction filing

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.