Etsy, Inc. (NASDAQ:ETSY) CEO Sells $1,044,951.18 in Stock

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 31,818 shares of the company's stock, valued at approximately $1,534,582.14. This represents 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 accessible through 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

Shares of Etsy stock traded down $3.99 during midday trading on Friday, hitting $44.42. 7,964,597 shares of the company were exchanged, compared to its average volume of 3,762,340. The firm has a 50 day simple moving average of $50.45 and a 200-day simple moving average of $52.43. Etsy, Inc. has a 52 week low of $43.43 and a 52 week high of $71.72. The firm has a market cap of $4.76 billion, a P/E ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. Equities research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC increased its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after buying an additional 292 shares during the period. Hurley Capital LLC bought a new stake in shares of Etsy during the fourth quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Etsy during the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC acquired a new stake in Etsy in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ETSY shares. Loop Capital decreased their target price on shares of Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a report on Thursday, February 20th. UBS Group cut their target price on shares of Etsy from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Cantor Fitzgerald decreased their target price on Etsy from $46.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus decreased their price objective on Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research report on Thursday, February 20th. Finally, Wells Fargo & Company cut their price objective on Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $58.38.

Etsy Company Profile

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.