Etsy (NYSE:ETSY) Insider Sells $6,923,831.72 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 92,404 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $74.93, for a total value of $6,923,831.72. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were 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 stock was 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 shares were sold at an average price of $64.18, for a total transaction 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 transaction of $2,514,567.00.
• On Tuesday, April 21st, Josh Silverman sold 70,000 shares of Etsy stock. The stock was sold at an average price of $65.00, for a total transaction 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 transaction 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.

Etsy Price Performance

Etsy stock opened at $77.32 on Thursday. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.83. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $80.41. The firm has a 50-day moving average of $68.27 and a two-hundred day moving average of $59.91.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently bought and sold shares of ETSY. Massachusetts Financial Services Co. MA increased its holdings in shares of Etsy by 33.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock valued at $10,369,000 after acquiring an additional 47,105 shares during the period. Lone Pine Capital LLC bought a new position in shares of Etsy in the 3rd quarter worth $257,614,000. Crossmark Global Holdings Inc. lifted its stake in shares of Etsy by 338.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock worth $5,738,000 after purchasing an additional 79,888 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its stake in shares of Etsy by 100.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock worth $4,657,000 after purchasing an additional 42,000 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Etsy by 717.7% during the first 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 in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETSY has been the subject of a number of research reports. Needham & Company LLC boosted their price target on Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Truist Financial raised their price objective on Etsy from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Barclays lifted their target price on Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Arete Research set a $76.00 target price on Etsy and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Wells Fargo & Company increased their price target on Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus target price of $71.80.

Etsy News Summary

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Recent analysis suggests Etsy is seeing a buyer rebound, with active buyers returning to sequential growth and spending per buyer improving, which could support revenue and cash flow if the trend continues. Etsy (ETSY) Buyers Return To Growth, Is The Stock Now Too Pricey?
• Positive Sentiment: Another report says Etsy’s first sequential increase in active buyers in two years, along with stronger app-based sales and personalized search/AI features, may be improving the investment case. Is Etsy’s Buyer Rebound and App Engagement Shift Altering The Investment Case For Etsy (ETSY)?
• Positive Sentiment: Analysts say Etsy’s AI seller tools could reduce friction for merchants, improve inventory quality, and help accelerate marketplace growth. Etsy’s Seller Tools Could Unlock Faster Marketplace Growth
• Neutral Sentiment: One valuation piece argues Etsy may look attractive on cash flow, but not necessarily cheap on earnings, leaving investors split on whether the stock is undervalued after its recent rebound. Is Etsy (ETSY) Stock Cheap On Cash Flow Or Expensive On Earnings?
• Negative Sentiment: ETSY saw additional insider selling, including CAO Merilee Buckley and Director Frederick Wilson, which can weigh on sentiment even though the trades were made under pre-arranged 10b5-1 plans. Insider Selling: Etsy (NYSE:ETSY) Director Sells 20,000 Shares of Stock
• Negative Sentiment: A market article also notes Etsy and CarGurus were trading down, reinforcing the weaker tone in the stock today. Etsy and CarGurus stocks trade down, what you need to know

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.