Etsy (NYSE:ETSY) Insider Josh Silverman Sells 12,148 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 12,148 shares of Etsy stock in a transaction on Monday, April 6th. The shares were sold at an average price of $54.00, for a total value of $655,992.00. Following the completion of the transaction, the insider owned 130,694 shares in the company, valued at $7,057,476. The trade was a 8.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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

Etsy stock traded up $0.12 during midday trading on Wednesday, reaching $54.06. The stock had a trading volume of 2,859,518 shares, compared to its average volume of 3,581,588. Etsy Inc has a twelve month low of $40.05 and a twelve month high of $76.51. The stock has a market capitalization of $5.20 billion, a PE ratio of 41.27, a PEG ratio of 3.30 and a beta of 1.77. The firm has a 50-day moving average price of $52.15.

Etsy (NYSE:ETSY) last issued its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $881.64 million for the quarter. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.

Etsy declared that its board has authorized a stock buyback plan on Thursday, December 18th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 14.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Etsy from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, February 20th. Truist Financial lifted their target price on shares of Etsy from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wedbush reduced their target price on shares of Etsy from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Needham & Company LLC reduced their target price on shares of Etsy from $76.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Wells Fargo & Company reduced their target price on shares of Etsy from $52.00 to $47.00 and set an “underweight” rating on the stock in a report on Friday, February 20th. Two investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.80.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETSY. Integrated Wealth Concepts LLC increased its stake in Etsy by 19.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after buying an additional 961 shares during the period. Empowered Funds LLC increased its stake in Etsy by 55.5% during the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after buying an additional 3,451 shares during the period. Woodline Partners LP purchased a new stake in Etsy during the 1st quarter worth $2,181,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Etsy by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after purchasing an additional 906 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Etsy in the 2nd quarter worth about $232,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

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.