Key Points
- Etsy insider Josh Silverman sold 383 shares at an average price of $74, generating $28,342. The transaction occurred under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 0.15% to 262,234 shares.
- Etsy shares opened at $76.79, with a market capitalization of approximately $7.29 billion. The company’s latest quarter missed EPS expectations, although revenue exceeded estimates and declined 0.7% year over year.
- Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $86.21. Institutional investors own approximately 99.53% of Etsy’s outstanding shares.
Etsy Inc (NYSE:ETSY - Get Free Report) insider Josh Silverman sold 383 shares of Etsy stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $74.00, for a total transaction of $28,342.00. Following the completion of the transaction, the insider owned 262,234 shares of the company's stock, valued at $19,405,316. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Josh Silverman also recently made the following trade(s):
- On Thursday, October 1st, Josh Silverman sold 2,090 shares of Etsy stock. The stock was 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 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 shares were 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.
Etsy Stock Performance
Shares of ETSY stock opened at $76.79 on Friday. The stock's fifty day moving average is $77.20 and its 200-day moving average is $70.78. The stock has a market capitalization of $7.29 billion, a PE ratio of 42.90, a PEG ratio of 1.88 and a beta of 1.86. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $87.97.
Etsy (NYSE:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, analysts forecast that Etsy Inc will post 3.94 earnings per share for the current fiscal year.
Institutional Trading of Etsy
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in shares of Etsy in the 2nd quarter valued at about $1,045,000. Ieq Capital LLC acquired a new stake in shares of Etsy during the 2nd quarter worth approximately $4,083,000. Landscape Capital Management L.L.C. bought a new stake in shares of Etsy during the second quarter worth approximately $6,466,000. Public Employees Retirement System of Ohio bought a new stake in shares of Etsy during the second quarter worth approximately $2,144,000. Finally, Bank of Nova Scotia acquired a new position in Etsy in the second quarter valued at approximately $18,602,000. 99.53% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on ETSY. Barclays boosted their target price on shares of Etsy from $82.00 to $94.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. raised shares of Etsy from a "neutral" rating to an "overweight" rating and raised their price target for the company from $85.00 to $100.00 in a report on Friday, August 7th. Zacks Research lowered shares of Etsy from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Piper Sandler boosted their price objective on shares of Etsy from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, Cantor Fitzgerald upped their price objective on Etsy from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Etsy has an average rating of "Hold" and a consensus target price of $86.21.
Read Our Latest Report on Etsy
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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