Etsy, Inc. (NASDAQ:ETSY) Receives Average Rating of “Hold” from Brokerages

Shares of Etsy, Inc. (NASDAQ:ETSY) have been assigned a consensus rating of “Hold” from the twenty-three ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $71.14.

A number of analysts have recently issued reports on the company. Evercore ISI raised Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Oppenheimer downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a report on Thursday, October 3rd. Piper Sandler reissued a “neutral” rating and set a $56.00 target price on shares of Etsy in a research note on Friday, August 23rd. Finally, Wedbush restated a “neutral” rating and issued a $65.00 target price on shares of Etsy in a research report on Monday, July 22nd.

Etsy Stock Down 2.2 %

Shares of ETSY stock opened at $49.65 on Friday. Etsy has a fifty-two week low of $49.56 and a fifty-two week high of $89.58. The stock has a market cap of $5.81 billion, a P/E ratio of 22.67, a P/E/G ratio of 5.39 and a beta of 1.97. The business has a fifty day simple moving average of $53.98 and a 200-day simple moving average of $60.00.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. On average, sell-side analysts anticipate that Etsy will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the transaction, the insider now owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares of the company’s stock, valued at $1,001,798.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,619 shares of company stock valued at $300,670. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several institutional investors have recently made changes to their positions in ETSY. 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 valued at $30,000 after acquiring an additional 429 shares in the last quarter. UMB Bank n.a. boosted its holdings in Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC increased its position in Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Etsy during the second quarter valued at about $42,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Etsy in the first quarter worth about $59,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.