Etsy, Inc. (NASDAQ:ETSY) Given Consensus Recommendation of “Hold” by Brokerages

Etsy, Inc. (NASDAQ:ETSY) has been given an average recommendation of “Hold” by the twenty-four research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $64.87.

Several research firms recently issued reports on ETSY. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Thursday, October 31st. Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a report on Friday. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Citigroup dropped their price target on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st.

Insider Buying and Selling

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $73,751.73. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,619 shares of company stock worth $240,825 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Etsy

Several large investors have recently modified their holdings of ETSY. Meritage Portfolio Management boosted its holdings in shares of Etsy by 152.4% in the third quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock valued at $14,698,000 after acquiring an additional 159,820 shares in the last quarter. Assetmark Inc. lifted its position in Etsy by 9.0% in the third quarter. Assetmark Inc. now owns 24,411 shares of the specialty retailer’s stock valued at $1,356,000 after purchasing an additional 2,025 shares during the period. Applied Finance Capital Management LLC purchased a new stake in Etsy in the 3rd quarter valued at approximately $1,289,000. Capital Performance Advisors LLP acquired a new position in Etsy during the 3rd quarter worth approximately $43,000. Finally, Olympiad Research LP purchased a new stake in shares of Etsy in the third quarter valued at approximately $364,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 0.9 %

Shares of ETSY opened at $52.27 on Tuesday. The firm has a market cap of $6.00 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 5.94 and a beta of 1.99. The company’s 50-day moving average price is $52.60 and its 200 day moving average price is $58.02. Etsy has a 12-month low of $47.10 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The company had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. Equities research analysts forecast that Etsy will post 2.3 earnings per share for the current year.

Etsy announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Etsy

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.