The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Etsy Inc. shares valued at $2,216,754 were sold by Silverman Josh on Sep 21. At $106.32 per share, Silverman Josh sold 20,850 shares. The insider’s holdings dropped to 102,707 shares worth approximately $10.01 million following the completion of this transaction.
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Also, Glaser Rachel C sold 3,040 shares, netting a total of over 340,966 in proceeds. Following the sale of shares at $112.16 each, the insider now holds 42,709 shares.
Before that, Silverman Josh had sold 20,850 shares from its account. In a trade valued at $2,207,192, the President & CEO traded Etsy Inc. shares for $105.86 each. Upon closing the transaction, the insider’s holdings decreased to 20,850 shares, worth approximately $10.01 million.
As published in their initiating research note from BofA Securities on September 20, 2022, Etsy Inc. [ETSY] has been a Neutral and the price target has been revised to $120. This represents a 18.76% premium over Thursday’s closing price. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in mid August. As of July 22, 2022, Piper Sandler has initiated its “Neutral” rating for ETSY. Earlier on July 21, 2022, KeyBanc Capital Markets initiated its rating. Their recommendation was “a Sector weight” for ETSY stock.
Analyzing ETSY’s Price Performance
On Thursday, Etsy Inc. [NASDAQ: ETSY] plunged -6.32% to $97.49. The stock’s lowest price that day was $96.851, but it reached a high of $104.00 in the same session. During the last five days, there has been a drop of approximately -13.23%. Over the course of the year, Etsy Inc. shares have dropped approximately -55.47%. 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 $105.06, while a 200-day SMA reached $124.39. Nevertheless, trading volume fell to 3.09 million shares from 2.07 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 94.89, which, if violated, would cause prices to drop to 92.30. In the upper region, resistance lies at 102.04. The next price resistance is at 106.60. RSI (Relative Strength Index) is 39.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.71, which suggests the price will decrease in the coming days. Percent R is at 96.44%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Etsy Inc. subject to short interest?
Stocks of Etsy Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.98 million shares to 16.11 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 15.13 million shares. A jump of 6.08% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.24 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.24.
Which companies own the most shares of Etsy Inc. (ETSY)?
According to The Vanguard Group, Inc. filings, the company currently owns 13,232,066 shares, which is about 10.45% of the total ETSY shares outstanding. The investor’s shares have appreciated by 40,427 from its previous 13-F filing of 13191639.0 shares. With the completion of the buy transaction, Wellington Management Co. LLP’s stake is now worth $981,589,822. BlackRock Fund Advisors reduced a -3.95% interest valued at $724.1 million while AllianceBernstein LP purchased a 1,256,096 stake. A total of -231,351 shares of Etsy Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 1,102,496 were bought by Flossbach von Storch AG. In its current portfolio, Goldman Sachs Asset Management LP holds 3,041,380 shares valued at $321.2 million.
In terms of Etsy Inc. share price expectations, FactSet research, analysts set an average price target of $116.39 in the next 12 months, up nearly 10.5% from the previous closing price of $104.07. Analysts anticipate Etsy Inc. stock to reach $186.00 by 2022, with the lowest price target being $51.00. In spite of this, 25 analysts ranked Etsy Inc. stock as an Overweight at the end of 2022. On June 30, 2022, Raymond James assigned a price target of “an Outperform” to the stock and initiated coverage with a $100.