Insider Selling: Etsy (NYSE:ETSY) Insider Sells $105,464.30 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 1,189 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $88.70, for a total value of $105,464.30. Following the completion of the sale, the insider owned 262,617 shares of the company’s stock, valued at $23,294,127.90. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, November 2nd, Josh Silverman sold 41,500 shares of Etsy stock. The shares were sold at an average price of $92.13, for a total value of $3,823,395.00.
• On Thursday, October 15th, Josh Silverman sold 417 shares of Etsy stock. The stock was sold at an average price of $84.47, for a total value of $35,223.99.
• On Tuesday, October 13th, Josh Silverman sold 714 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total value of $56,406.00.
• On Thursday, October 8th, Josh Silverman sold 383 shares of Etsy stock. The stock was sold at an average price of $74.00, for a total value of $28,342.00.
• On Thursday, October 1st, Josh Silverman sold 2,090 shares of Etsy stock. The shares were sold at an average price of $72.45, for a total value of $151,420.50.
• On Tuesday, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The shares were sold at an average price of $81.85, for a total value of $957,317.60.
• On Thursday, September 3rd, Josh Silverman sold 1,671 shares of Etsy stock. The stock was sold at an average price of $84.00, for a total value of $140,364.00.
• 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 value of $528,696.00.

Etsy Stock Performance

Shares of NYSE ETSY traded up $3.56 during trading on Monday, hitting $92.52. 5,002,804 shares of the company were exchanged, compared to its average volume of 3,275,248. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $95.49. The company has a fifty day moving average price of $78.74 and a 200-day moving average price of $68.21. The firm has a market capitalization of $7.98 billion, a PE ratio of 10.92, a P/E/G ratio of 2.07 and a beta of 1.75.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $7.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $6.55. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The firm had revenue of $692.47 million during the quarter, compared to analyst estimates of $669.04 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Etsy’s quarterly revenue was up 10.9% on a year-over-year basis. Research analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ETSY. Truist Financial boosted their target price on shares of Etsy from $90.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Wedbush raised their price target on shares of Etsy from $88.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley lifted their price target on shares of Etsy from $73.00 to $79.00 and gave the company an “equal weight” rating in a research report on Thursday. Raymond James Financial upped their price objective on Etsy from $75.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Finally, Jefferies Financial Group increased their price objective on Etsy from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Etsy has an average rating of “Hold” and an average price target of $94.07.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in Etsy in the second quarter valued at about $34,000. EFG International AG purchased a new position in Etsy during the second quarter worth about $45,000. Signaturefd LLC increased its position in shares of Etsy by 61.8% during the third quarter. Signaturefd LLC now owns 762 shares of the company’s stock valued at $54,000 after acquiring an additional 291 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Etsy by 2,379.1% during the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock valued at $80,000 after acquiring an additional 1,023 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Etsy during the second quarter valued at about $105,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

About Etsy

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.