Insider Selling: Etsy (NASDAQ:ETSY) Insider Sells 86,666 Shares of Stock

by · The Markets Daily

Etsy, Inc. (NASDAQ:ETSY – Get Free Report) insider Josh Silverman sold 86,666 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $57.46, for a total value of $4,979,828.36. Following the completion of the transaction, the insider owned 90,661 shares of the company’s stock, valued at $5,209,381.06. This represents a 48.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, December 1st, Josh Silverman sold 21,666 shares of Etsy stock. The shares were sold at an average price of $54.67, for a total value of $1,184,480.22.
  • On Monday, November 3rd, Josh Silverman sold 21,666 shares of Etsy stock. The stock was sold at an average price of $61.46, for a total value of $1,331,592.36.

Etsy Stock Up 2.2%

ETSY traded up $1.26 during midday trading on Monday, hitting $58.54. 4,106,620 shares of the company traded hands, compared to its average volume of 3,780,589. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51. The firm has a market capitalization of $5.78 billion, a PE ratio of 47.21, a price-to-earnings-growth ratio of 10.65 and a beta of 1.76. The company’s 50-day moving average is $56.79 and its 200 day moving average is $59.71.

Etsy (NASDAQ:ETSY – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company had revenue of $678.03 million during the quarter, compared to analyst estimates of $655.83 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. Etsy’s revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Etsy declared that its Board of Directors has authorized a stock buyback program on Thursday, December 18th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 14.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Etsy

Hedge funds have recently made changes to their positions in the business. Heritage Wealth Advisors raised its stake in Etsy by 476.5% during the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 405 shares in the last quarter. Signaturefd LLC raised its position in shares of Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 192 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Etsy during the 2nd quarter valued at about $35,000. Employees Retirement System of Texas bought a new position in shares of Etsy in the 2nd quarter valued at about $47,000. Finally, SJS Investment Consulting Inc. grew its position in Etsy by 12,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 756 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ETSY shares. Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Etsy in a research note on Thursday, September 18th. Piper Sandler reaffirmed a “neutral” rating on shares of Etsy in a report on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and set a $78.00 price target (down previously from $80.00) on shares of Etsy in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on Etsy from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $72.00 price objective on shares of Etsy in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.24.

Check Out Our Latest Analysis on ETSY

Etsy Company Profile

(Get Free Report)

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.

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