Key Points
- Etsy insider Josh Silverman sold 39,161 shares on July 10 at an average price of $79.00, worth about $3.09 million. The sale reduced his position by 21.87% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Silverman has been consistently selling Etsy stock in recent months, including several large transactions in June and July. The article lists multiple prior sales totaling hundreds of thousands of shares.
- Etsy’s stock has been performing near its 52-week high, opening at $83.28 with a market cap of $7.9 billion. Analysts currently have an average rating of “Hold” and an average price target of $72.80, while institutional investors continue to hold the vast majority of shares.
Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 39,161 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $79.00, for a total value of $3,093,719.00. Following the completion of the sale, the insider owned 139,884 shares of the company's stock, valued at $11,050,836. The trade was a 21.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The stock was 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 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 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 shares were 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 value 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.
Etsy Stock Performance
ETSY stock opened at $83.28 on Wednesday. The stock has a market cap of $7.90 billion, a P/E ratio of 34.70, a P/E/G ratio of 3.35 and a beta of 1.83. The firm has a 50 day simple moving average of $69.53 and a 200 day simple moving average of $60.63. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $83.36.
Analyst Ratings Changes
A number of equities research analysts have issued reports on ETSY shares. The Goldman Sachs Group raised shares of Etsy from a "sell" rating to a "neutral" rating in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Etsy from $74.00 to $75.00 and gave the stock a "hold" rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on Etsy from $75.00 to $78.00 and gave the stock a "neutral" rating in a report on Friday, June 12th. Susquehanna cut Etsy to a "neutral" rating in a research report on Thursday, May 21st. Finally, Canaccord Genuity Group boosted their target price on Etsy from $72.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $72.80.
Get Our Latest Stock Report on ETSY
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its position in Etsy by 11.2% during the second quarter. Handelsbanken Fonder AB now owns 34,700 shares of the company's stock worth $2,614,000 after purchasing an additional 3,500 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Etsy in the second quarter valued at approximately $492,000. Assenagon Asset Management S.A. lifted its stake in shares of Etsy by 48.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company's stock worth $121,532,000 after buying an additional 523,092 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Etsy by 24.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,800 shares of the company's stock worth $286,000 after buying an additional 750 shares during the period. Finally, CoreCap Advisors LLC boosted its holdings in shares of Etsy by 2,379.1% during the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company's stock worth $80,000 after buying an additional 1,023 shares during the period. 99.53% of the stock is owned by institutional investors.
About Etsy
(
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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