Etsy (NASDAQ:ETSY) Shares Gap Up to $51.74

Etsy, Inc. (NASDAQ:ETSY) gapped up prior to trading on Friday . The stock had previously closed at $51.74, but opened at $54.28. Etsy shares last traded at $53.92, with a volume of 509,287 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ETSY shares. Piper Sandler reissued a “neutral” rating and issued a $56.00 price target on shares of Etsy in a report on Friday, August 23rd. Cantor Fitzgerald assumed coverage on Etsy in a research note on Thursday, September 5th. They set a “neutral” rating and a $50.00 target price for the company. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Wells Fargo & Company dropped their target price on Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus lowered their price objective on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Etsy currently has a consensus rating of “Hold” and an average target price of $70.61.

Etsy Stock Up 7.6 %

The company has a market capitalization of $6.39 billion, a P/E ratio of 25.41, a PEG ratio of 5.10 and a beta of 1.97. The company has a 50 day simple moving average of $57.04 and a two-hundred day simple moving average of $62.03.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. During the same quarter last year, the firm earned $0.83 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts expect that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 2,000 shares of company stock valued at $116,395. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its position in Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares during the last quarter. Larson Financial Group LLC increased its stake in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Etsy during the second quarter valued at approximately $42,000. Finally, Principal Securities Inc. purchased a new position in shares of Etsy in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Company Profile

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.