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

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the completion of the sale, the chief executive officer now owns 31,818 shares of the company’s stock, valued at approximately $1,534,582.14. The trade was a 40.51 % decrease in their position. The transaction was disclosed in a 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 transaction of $1,127,715.30.

Etsy Trading Down 8.2 %

Shares of NASDAQ:ETSY opened at $44.42 on Friday. The company has a 50 day moving average of $50.45 and a 200 day moving average of $52.43. The stock has a market cap of $4.76 billion, a P/E ratio of 18.74, a P/E/G ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The firm 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 business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. On average, equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ETSY. Loop Capital cut their target price on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Cantor Fitzgerald cut their price objective on Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. JPMorgan Chase & Co. assumed coverage on Etsy in a research report on Wednesday, March 19th. They set a “neutral” rating and a $50.00 target price for the company. Citigroup cut their price target on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Morgan Stanley decreased their price objective on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.38.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently modified their holdings of the company. Versant Capital Management Inc increased its stake in Etsy by 1,066.3% in the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer’s stock worth $454,000 after purchasing an additional 8,797 shares during the period. Kera Capital Partners Inc. bought a new position in shares of Etsy in the first quarter worth approximately $231,000. 111 Capital purchased a new position in shares of Etsy in the fourth quarter worth $310,000. Wealth Enhancement Advisory Services LLC raised its holdings in Etsy by 125.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the specialty retailer’s stock valued at $923,000 after buying an additional 9,718 shares during the last quarter. Finally, Brooklyn FI LLC purchased a new stake in Etsy during the 4th quarter valued at $5,229,000. 99.53% of the stock is currently owned by institutional investors.

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.