Josh Silverman Sells 21,666 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the completion of the transaction, the chief executive officer now owns 31,818 shares in the company, valued at approximately $1,534,582.14. The trade was a 40.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Josh Silverman also recently made the following trade(s):

• On Monday, February 24th, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30.

Etsy Price Performance

Etsy stock traded down $2.01 during trading hours on Thursday, reaching $48.41. The company had a trading volume of 6,552,317 shares, compared to its average volume of 3,736,218. Etsy, Inc. has a 12-month low of $43.43 and a 12-month high of $71.72. The company has a 50-day moving average price of $50.70 and a 200 day moving average price of $52.54. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. As a group, research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ETSY. Wells Fargo & Company lowered their price objective on Etsy from $47.00 to $46.00 and set an “underweight” rating on the stock in a research note on Wednesday. Morgan Stanley dropped their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Loop Capital cut their price target on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, February 20th. Finally, Truist Financial reduced their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.38.

Hedge Funds Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of ETSY. Norges Bank purchased a new position in Etsy during the 4th quarter valued at about $74,235,000. Assenagon Asset Management S.A. increased its stake in shares of Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after buying an additional 850,520 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Etsy by 703.8% during the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock valued at $42,982,000 after acquiring an additional 711,572 shares in the last quarter. Van ECK Associates Corp lifted its stake in Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after acquiring an additional 522,111 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Etsy by 89.1% in the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer’s stock valued at $47,042,000 after acquiring an additional 419,038 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.