Key Points
- Insider sale: Etsy CEO Josh Silverman sold 2,090 shares at an average price of $72.45, generating $151,420.50. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 262,617 shares.
- Recent performance: Etsy shares opened at $71.04, with a 12-month range of $44.00 to $87.97 and a market capitalization of approximately $6.74 billion. The company’s latest quarterly earnings missed estimates, while revenue declined 0.7% year over year.
- Analyst outlook: Wall Street maintains a consensus “Moderate Buy” rating, with an average price target of $86.21. Institutional investors and hedge funds own approximately 99.53% of Etsy’s outstanding shares.
Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 2,090 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $72.45, for a total value of $151,420.50. Following the transaction, the insider directly owned 262,617 shares in the company, valued at approximately $19,026,601.65. This represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 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 shares were 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.
- On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The stock was sold at an average price of $83.11, for a total value of $3,416,485.88.
- 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.
Etsy Price Performance
NYSE ETSY opened at $71.04 on Tuesday. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.97. The company has a 50-day moving average of $78.04 and a 200-day moving average of $70.34. The company has a market cap of $6.74 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.82 and a beta of 1.86.
Etsy (NYSE:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company had revenue of $668.31 million for the quarter, compared to analysts' expectations of $646.10 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company's revenue was down .7% on a year-over-year basis. As a group, equities research analysts anticipate that Etsy Inc will post 3.94 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Zacks Research raised shares of Etsy from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 31st. Evercore set a $83.00 target price on Etsy in a report on Thursday, August 6th. Weiss Ratings lowered Etsy from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Cantor Fitzgerald lifted their price objective on Etsy from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, Barclays lifted their price objective on Etsy from $82.00 to $94.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $86.21.
View Our Latest Stock Analysis on ETSY
Hedge Funds Weigh In On Etsy
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Etsy by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company's stock worth $297,991,000 after acquiring an additional 594,768 shares during the period. Van ECK Associates Corp raised its stake in shares of Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company's stock valued at $207,022,000 after purchasing an additional 39,067 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 purchasing an additional 1,112,520 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Etsy by 48.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company's stock worth $121,532,000 after purchasing an additional 523,092 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Etsy during the second quarter worth $120,417,000. 99.53% of the stock is owned by institutional investors and hedge funds.
About Etsy
(
Get Free Report)
Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.
The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.
Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.
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