Key Points
- Insider sale: Etsy CEO Josh Silverman sold 97,389 shares on June 24 at an average price of $79.00, totaling about $7.69 million. The sale reduced his direct ownership by 42.7% and was made under a pre-arranged Rule 10b5-1 plan.
- Recent selling trend: This latest transaction follows several other insider sales by Silverman over the prior weeks, including multiple large sales in June and April. Overall, the article highlights a sustained pattern of share reductions.
- Stock and sentiment backdrop: Etsy shares were trading near $77.80, close to their 52-week high of $79.90, while analysts remain mixed with an overall Hold rating and an average target price of $71.80. Institutional ownership remains very high at 99.53%.
Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 97,389 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $79.00, for a total value of $7,693,731.00. Following the transaction, the insider directly owned 130,694 shares of the company's stock, valued at $10,324,826. This trade represents a 42.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 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 value of $9,281,549.70.
- On Friday, May 1st, Josh Silverman sold 88,350 shares of Etsy stock. The stock was sold at an average price of $64.18, for a total value of $5,670,303.00.
- On Wednesday, April 29th, Josh Silverman sold 36,443 shares of Etsy stock. The stock was sold at an average price of $69.00, for a total value of $2,514,567.00.
- On Tuesday, April 21st, Josh Silverman sold 70,000 shares of Etsy stock. The shares were sold at an average price of $65.00, for a total value of $4,550,000.00.
- On Monday, April 20th, Josh Silverman sold 30,369 shares of Etsy stock. The shares were 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 stock was sold at an average price of $59.00, for a total transaction of $1,433,464.00.
- On Monday, April 6th, Josh Silverman sold 12,148 shares of Etsy stock. The stock was sold at an average price of $54.00, for a total transaction of $655,992.00.
- 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 transaction of $298,051.18.
Etsy Stock Down 0.3%
Shares of NYSE:ETSY opened at $77.80 on Friday. The company's 50-day moving average price is $65.80 and its 200 day moving average price is $58.47. The company has a market cap of $7.38 billion, a PE ratio of 32.42, a P/E/G ratio of 3.11 and a beta of 1.88. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $79.90.
Institutional Investors Weigh In On Etsy
A number of institutional investors have recently added to or reduced their stakes in ETSY. Lone Pine Capital LLC bought a new position in Etsy during the 3rd quarter valued at $257,614,000. SG Americas Securities LLC lifted its holdings in shares of Etsy by 717.7% in the first 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 period. AQR Capital Management LLC boosted its stake in Etsy by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company's stock valued at $227,785,000 after buying an additional 1,177,301 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company's stock worth $163,841,000 after acquiring an additional 1,112,520 shares during the period. Finally, Norges Bank acquired a new position in Etsy during the fourth quarter worth about $33,903,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Zacks Research raised Etsy from a "hold" rating to a "strong-buy" rating in a report on Monday, June 15th. Argus upgraded Etsy from a "hold" rating to a "buy" rating and set a $67.00 target price on the stock in a research report on Thursday, May 21st. Needham & Company LLC lifted their target price on Etsy from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Wall Street Zen lowered Etsy from a "buy" rating to a "hold" rating in a research report on Sunday, May 31st. Finally, Truist Financial increased their price target on Etsy from $83.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $71.80.
View Our Latest Stock Report on Etsy
Etsy Company Profile
(
Get Free Report)
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.
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