ETSY (Etsy Inc.) may reap gains as insiders became active recently


Etsy Inc.’s filing revealed that its President & CEO Silverman Josh unloaded Company’s shares for reported $2.46 million on Mar 01. In the deal valued at $117.90 per share,20,850 shares were sold. As a result of this transaction, Silverman Josh now holds 107,305 shares worth roughly $ 13.03 million.

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Then, Kumar Rachana sold 1,644 shares, generating $200,091 in total proceeds. Upon selling the shares at $121.71, the Chief Technology Officer now owns 6,705 shares.

Before that, Glaser Rachel C sold 19,822 shares. Etsy Inc. shares valued at $2,488,428 were divested by the Chief Financial Officer at a price of $125.54 per share. As a result of the transaction, Glaser Rachel C now holds 49,143 shares, worth roughly $5.97 million.

Oppenheimer reiterated its Etsy Inc. [ETSY] rating to an Outperform in a research note published on Friday, January 27, 2023; the price target was $150. PT values the company’s stock at a premium of 19.05 to its Friday closing price. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in early January with a ‘”a Peer perform”‘ rating. Needham also remained covering ETSY and has increased its forecast on January 04, 2023 with a “Buy” recommendation from previously “Hold” rating. Citigroup started covering the stock on December 13, 2022. It rated ETSY as “a Buy”.

Price Performance Review of ETSY

On Friday, Etsy Inc. [NASDAQ:ETSY] saw its stock jump 2.50% to $121.42. On the same session, the stock had its day’s lowest price of $119.005, but rose to a high of $122.40. Over the last five days, the stock has lost -2.16%. Etsy Inc. shares have risen nearly 1.37% since the year began. Nevertheless, the stocks have fallen -25.06% over the past one year. While a 52-week high of $163.84 was reached on 02/03/23, a 52-week low of $67.01 was recorded on 01/03/23. SMA at 50 days reached $130.38, while 200 days put it at $108.36. A total of 3.0 million shares were traded, compared to the trading of 2.95 million shares in the previous session.

Levels Of Support And Resistance For ETSY Stock

The 24-hour chart illustrates a support level at 119.48, which if violated will result in even more drops to 117.55. On the upside, there is a resistance level at 122.88. A further resistance level may holdings at 124.34. The Relative Strength Index (RSI) on the 14-day chart is 41.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -7.75, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.84%. Stochastics %K at 11.39% indicates the stock is a buying.

How much short interest is there in Etsy Inc.?

A steep rise in short interest was recorded in Etsy Inc. stocks on Jan 12, 2023, growing by 0.84 million shares to a total of 13.21 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 12.37 million shares. There was a rise of 6.36%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.91% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.82.

Etsy Inc. [ETSY] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 13,367,526 shares, or roughly 10.64% of the outstanding ETSY shares. In other words, the investor’s shares have risen by 54,010 from its previous 13-F filing of 13313516.0. Additionally, Wellington Management Co. LLP increased 16.23% of its stake after which the total value it holdings stand at $1,060,296,591, while BlackRock Fund Advisors reduced -7.16% of its stake to hold $875.75 million in the firm. Over the last quarter, Capital Research & Management Co purchased 695,020 shares of Etsy Inc., while SSgA Funds Management, Inc. bought -134,237 shares. At present, AllianceBernstein LP is holding 4,214,520 shares valued at $579.83 million. Goldman Sachs Asset Management LP owned 3,133,930 shares of the company at the time of its most recent 13F filing, worth $431.17 million.

According to FactSet, Etsy Inc.’s share price will average $143.74 in the next year, based on opinions of analysts polled by the firm. This is up nearly 26.63 percent from its previous closing price of $118.46. Analysts expect Etsy Inc. stock to reach the higher price of $186.00, while the lowest price estimate is $74.00. However, 29 analysts have rated ETSY stock as an Overweight in their predictions for 2023. The most recent change occurred on November 15, 2022 when MoffettNathanson began covering the stock and recommended ‘”a Market perform”‘ rating along with a $116 price target.


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