Etsy (NYSE:ETSY) Insider Josh Silverman Sells 97,389 Shares of Stock

by · The Cerbat Gem

Etsy Inc (NYSE:ETSY – Get Free Report) insider Josh Silverman sold 97,389 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the completion of the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $10,324,826. The trade was a 42.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 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 shares were 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 stock was sold at an average price of $65.00, for a total transaction of $4,550,000.00.
  • On Monday, April 20th, Josh Silverman sold 30,369 shares of Etsy stock. The stock was 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 Price Performance

ETSY stock traded down $0.22 during midday trading on Thursday, hitting $77.80. The company’s stock had a trading volume of 2,203,968 shares, compared to its average volume of 3,370,912. The company’s fifty day moving average price is $65.36 and its 200 day moving average price is $58.30. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $79.90. The stock has a market capitalization of $7.38 billion, a P/E ratio of 32.42, a PEG ratio of 2.98 and a beta of 1.88.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James Financial lowered Etsy from an “outperform” rating to an “outperform” rating in a report on Thursday, May 21st. Weiss Ratings raised Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Cantor Fitzgerald increased their price objective on Etsy from $51.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Finally, Citigroup started coverage on shares of Etsy in a research note on Thursday, May 21st. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $71.80.

Check Out Our Latest Research Report on Etsy

Hedge Funds Weigh In On Etsy

A number of hedge funds and other institutional investors have recently bought and sold shares of ETSY. Renaissance Technologies LLC increased its position in Etsy by 11.1% during the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after buying an additional 594,768 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Etsy by 40.1% in 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 during the last quarter. Lone Pine Capital LLC bought a new position in shares of Etsy during the 3rd quarter worth approximately $257,614,000. Van ECK Associates Corp boosted its stake in shares of Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after acquiring an additional 39,067 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Etsy by 51.4% during the 1st 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. Institutional investors own 99.53% of the company’s stock.

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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