Etsy (NYSE:ETSY) Insider Sells $3,416,485.88 in Stock

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 41,108 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $83.11, for a total value of $3,416,485.88. Following the transaction, the insider owned 171,932 shares of the company’s stock, valued at approximately $14,289,268.52. This represents a 19.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 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 value of $3,093,719.00.
• On Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The shares were sold at an average price of $74.93, for a total value 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 value of $7,693,731.00.
• On Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The stock was 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 shares were 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 shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70.

Etsy Price Performance

Shares of NYSE ETSY traded up $3.31 during midday trading on Tuesday, reaching $86.48. 3,016,285 shares of the company traded hands, compared to its average volume of 3,234,977. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 3.20 and a beta of 1.84. The stock has a 50-day moving average price of $75.90 and a 200 day moving average price of $63.07. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.26.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BTIG Research lowered shares of Etsy from a “buy” rating to a “neutral” rating in a research note on Thursday, July 16th. The Goldman Sachs Group raised Etsy from a “sell” rating to a “neutral” rating in a research note on Thursday, May 21st. Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Thursday, May 21st. Raymond James Financial boosted their price objective on Etsy from $75.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Finally, Wedbush initiated coverage on shares of Etsy in a research report on Thursday, July 16th. They issued a “neutral” rating and a $80.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.36.

Institutional Investors Weigh In On Etsy

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings 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 buying an additional 1,314,071 shares during the last quarter. AQR Capital Management LLC increased its holdings in Etsy by 40.1% in the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after buying an additional 1,177,301 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after acquiring an additional 1,112,520 shares in the last quarter. Norges Bank bought a new position in Etsy during the fourth quarter valued at approximately $33,903,000. Finally, Renaissance Technologies LLC lifted its stake in Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after acquiring an additional 594,768 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.