Saturday, June 25, 2022

Selling Buzz: Etsy Inc. [ETSY] President & CEO Silverman Josh sells 20,850 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Etsy Inc. shares valued at $1,785,864 were sold by Silverman Josh on Jun 08. At $85.65 per share, Silverman Josh sold 20,850 shares. The insider’s holdings dropped to 102,707 shares worth approximately $7.61 million following the completion of this transaction.

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Also, Silverman Josh sold 20,850 shares, netting a total of over 1,510,514 in proceeds. Following the sale of shares at $72.45 each, the insider now holds 102,707 shares.

Before that, Silverman Josh had sold 20,850 shares from its account. In a trade valued at $1,695,883, the President & CEO traded Etsy Inc. shares for $81.34 each. Upon closing the transaction, the insider’s holdings decreased to 20,850 shares, worth approximately $7.61 million.

As published in a research note from BTIG Research on June 21, 2022, Etsy Inc. [ETSY] has been retained to a Buy and the price target has been revised to $105. This represents a 29.44% premium over Wednesday’s closing price. Analysts at Oppenheimer resumed the stock at ‘”an Outperform”‘ outlook in a report released in mid June. Earlier on May 24, 2022, Bernstein initiated its rating. Their recommendation was “an Outperform” for ETSY stock.

Analyzing ETSY’s Price Performance

On Wednesday, Etsy Inc. [NASDAQ: ETSY] rose 3.18% to $74.09. The stock’s lowest price that day was $70.565, but it reached a high of $75.29 in the same session. During the last five days, there has been a surge of approximately 3.46%. Over the course of the year, Etsy Inc. shares have dropped approximately -66.16%. Shares of the company reached a 52-week high of $223.22 on 01/03/22 and a 52-week low of $67.01 on 06/16/22. A 50-day SMA is recorded $88.78, while a 200-day SMA reached $168.73. Nevertheless, trading volume fell to 2.79 million shares from 3.27 million shares the previous day.

Support And Resistance Levels for Etsy Inc. (ETSY)

According to the 24-hour chart, there is a support level at 71.34, which, if violated, would cause prices to drop to 68.59. In the upper region, resistance lies at 76.06. The next price resistance is at 78.04. RSI (Relative Strength Index) is 43.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.72, which suggests the price will decrease in the coming days. Percent R is at 66.17%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of Etsy Inc. (ETSY)?

According to The Vanguard Group, Inc. filings, the company currently owns 13,191,639 shares, which is about 10.38% of the total ETSY shares outstanding. The investor’s shares have appreciated by 131,925 from its previous 13-F filing of 13059714.0 shares. With the completion of the buy, Wellington Management Co. LLP’s stake is now worth $619,650,046. BlackRock Fund Advisors acquire a 0.59% interest valued at $579.05 million while SSgA Funds Management, Inc. sold a -92,301 stake. A total of 2,043,057 shares of Etsy Inc. were sold by AllianceBernstein LP during the quarter, and -557,019 were sold by T. Rowe Price Associates, Inc. In its current portfolio, Capital Research & Management Co holds 3,457,269 shares valued at $280.45 million.

In terms of Etsy Inc. share price expectations, FactSet research, analysts set an average price target of $137.28 in the next 12 months, up nearly 77.55% from the previous closing price of $71.81. Analysts anticipate Etsy Inc. stock to reach $268.00 by 2022, with the lowest price target being $75.00. In spite of this, 21 analysts ranked Etsy Inc. stock as an Overweight at the end of 2022. On March 29, 2022, Loop Capital assigned a price target of “a Hold” to the stock and downgraded coverage with a $140.

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