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

Etsy, Inc. (NASDAQ:ETSY) has been given an average recommendation of “Hold” by the twenty-six analysts that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $58.78.

ETSY has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Etsy in a report on Thursday, February 20th. UBS Group decreased their price objective on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and decreased their price objective for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Finally, Moffett Nathanson upped their price objective on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th.

Etsy Price Performance

ETSY stock opened at $46.80 on Monday. The business has a 50 day simple moving average of $53.17 and a 200-day simple moving average of $53.53. The firm has a market capitalization of $5.01 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy has a 1 year low of $45.85 and a 1 year high of $73.48.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share. On average, equities research analysts expect that Etsy will post 2.57 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the transaction, the insider now owns 20,698 shares of the company’s stock, valued at $1,044,835.04. This represents a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

Large investors have recently bought and sold shares of the business. DJE Kapital AG purchased a new position in Etsy in the fourth quarter valued at $983,000. Meritage Portfolio Management increased its holdings in 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 buying an additional 159,820 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Etsy by 183.9% in the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after buying an additional 3,861,668 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Etsy by 313.1% in the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after buying an additional 411,165 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after buying an additional 85,396 shares during the last quarter. Hedge funds and other institutional investors 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.