Etsy CEO Josh Silverman sells $1.13 million in stock

Josh Silverman, President and CEO of Etsy Inc . (NASDAQ:ETSY), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Silverman sold a total of 21,666 shares of common stock, generating approximately $1.13 million. The shares were sold at prices ranging from $51.09 to $53.25 per share. The transaction occurred as Etsy, currently valued at $5.54 billion, trades near its 52-week low, with InvestingPro analysis indicating the stock may be undervalued.

In addition to the sales, Silverman exercised stock options to acquire 21,666 shares at a price of $10.62 each. These transactions were conducted under a pre-arranged trading plan established in November 2024. Following these transactions, Silverman holds 5,004 shares directly.

Silverman also maintains indirect ownership of additional shares through various trusts, including 4,942 shares held by a GST Trust, 16,886 shares by a Non-GST Trust, 42,269 shares by an Irrevocable Trust, and 164,000 shares by a Grantor Retained Annuity Trust (GRAT).

These transactions are part of a broader strategy by Silverman to manage his holdings in the company, providing liquidity while maintaining significant indirect ownership stakes.

In other recent news, Etsy’s financial performance and future outlook have been the focus of several analyst reports. The company reported a shortfall in its fourth-quarter Gross Merchandise Sales (GMS), which fell approximately 3% below expectations, despite exceeding adjusted EBITDA estimates by 2-4% due to improved take-rate and gross margin. Cantor Fitzgerald, Guggenheim, Loop Capital, Raymond (NSE:RYMD) James, and Goldman Sachs have all adjusted their price targets for Etsy, reflecting concerns over the company’s near-term prospects and ongoing challenges in the e-commerce sector. Cantor Fitzgerald lowered its price target to $43 while maintaining a Neutral rating, citing uncertainties in Etsy’s fundamental outlook for 2025. Guggenheim reduced its target to $70 but maintained a Buy rating, suggesting potential improvement in Etsy’s performance through strategic investments. Loop Capital cut its target to $40 with a Sell rating, pointing to a continued decline in GMS and revisions in financial projections. Raymond James adjusted its target to $60 and retained an Outperform rating, highlighting Etsy’s attractive valuation and potential for improved market sentiment later in the year. Lastly, Goldman Sachs reiterated a Sell rating with a $45 target, emphasizing the competitive challenges Etsy faces and the continued decline in GMS. These recent developments provide investors with insights into Etsy’s current financial landscape and the varying perspectives of analysts on its future trajectory.

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