Insider Selling: Etsy, Inc. (NASDAQ:ETSY) CEO Sells 21,666 Shares of Stock

Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Etsy Stock Performance

NASDAQ:ETSY opened at $51.19 on Friday. The firm’s 50-day moving average is $53.89 and its 200-day moving average is $53.73. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $73.48.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results 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. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. During the same period in the previous year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ETSY. Blue Trust Inc. boosted its stake in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after buying an additional 231 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 181 shares during the period. True Wealth Design LLC boosted its position in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares in the last quarter. Hurley Capital LLC bought a new stake in Etsy in the fourth quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Etsy in the fourth quarter worth about $34,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ETSY shares. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and decreased their price target for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Etsy in a research report on Thursday, February 20th. Barclays decreased their target price on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Moffett Nathanson lifted their price objective on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company raised their target price on Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen 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 stock currently has a consensus rating of “Hold” and an average target price of $58.78.

About Etsy

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.