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 firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total value of $1,044,951.18. Following the transaction, the chief executive officer now directly owns 31,818 shares in the company, valued at approximately $1,534,582.14. This represents a 40.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

Etsy Stock Down 6.5 %

Shares of ETSY traded down $2.84 during mid-day trading on Tuesday, hitting $40.80. The company had a trading volume of 6,254,435 shares, compared to its average volume of 3,782,028. Etsy, Inc. has a 1-year low of $40.60 and a 1-year high of $71.72. The business's 50-day simple moving average is $49.67 and its 200-day simple moving average is $52.18. The stock has a market cap of $4.37 billion, a PE ratio of 17.22, a P/E/G ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million during the quarter, compared to analysts' expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. On average, sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Hedge Funds Weigh In On Etsy

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock worth $651,056,000 after purchasing an additional 56,772 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Etsy by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock worth $286,751,000 after acquiring an additional 235,550 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after acquiring an additional 522,111 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Etsy by 12.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock valued at $92,452,000 after acquiring an additional 188,386 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after purchasing an additional 850,520 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ETSY. Citigroup cut their price objective on shares of Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Truist Financial cut their price target on shares of Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Morgan Stanley lowered their price objective on Etsy from $45.00 to $44.00 and set an "underweight" rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus cut their target price on Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research note on Thursday, February 20th. Finally, UBS Group decreased their price target on Etsy from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $57.71.

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.