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

Etsy, Inc. (NASDAQ:ETSY) has earned a consensus recommendation of “Hold” from the twenty-five brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $50.14.

Several analysts have recently commented on the company. The Goldman Sachs Group decreased their target price on Etsy from $35.00 to $31.00 and set a “sell” rating on the stock in a report on Thursday, May 1st. Barclays decreased their target price on Etsy from $55.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Piper Sandler decreased their target price on Etsy from $52.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company decreased their target price on Etsy from $46.00 to $40.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Finally, Cantor Fitzgerald increased their target price on Etsy from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st.

Etsy Price Performance

Etsy stock opened at $47.60 on Friday. The stock has a fifty day moving average price of $45.57 and a two-hundred day moving average price of $50.73. Etsy has a 52-week low of $40.05 and a 52-week high of $66.93. The firm has a market capitalization of $4.96 billion, a P/E ratio of 20.08, a P/E/G ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This represents a 81.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,418 shares of company stock valued at $3,601,377. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC raised its position in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares during the period. Larson Financial Group LLC raised its position in shares of Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock worth $144,000 after purchasing an additional 218 shares during the period. Allworth Financial LP raised its position in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 248 shares during the period. Heron Bay Capital Management raised its position in shares of Etsy by 1.3% during the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock worth $1,072,000 after purchasing an additional 258 shares during the period. Finally, Denver PWM LLC raised its position in shares of Etsy by 36.1% during the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.