Etsy (NASDAQ:ETSY) Now Covered by Analysts at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of Etsy (NASDAQ:ETSY) in a research note released on Monday, MarketBeat reports. The brokerage issued a neutral rating on the specialty retailer’s stock.

Several other brokerages have also recently weighed in on ETSY. Guggenheim reiterated a “buy” rating and issued a $70.00 price target on shares of Etsy in a research report on Thursday, September 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $64.00 target price on shares of Etsy in a report on Thursday, October 30th. Weiss Ratings upgraded Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Truist Financial raised their price objective on shares of Etsy from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Stifel Nicolaus upped their target price on shares of Etsy from $45.00 to $66.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $64.24.

Etsy Stock Down 2.2%

Shares of ETSY stock opened at $51.94 on Monday. The firm has a market cap of $5.13 billion, a P/E ratio of 41.89, a PEG ratio of 10.65 and a beta of 1.87. The company has a 50 day moving average of $65.03 and a 200-day moving average of $59.47. Etsy has a 12-month low of $40.05 and a 12-month high of $76.51.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. During the same period last year, the firm earned $0.45 EPS. Etsy’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts expect that Etsy will post 2.57 EPS for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Goyal Kruti Patel sold 7,685 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $576,451.85. Following the completion of the transaction, the insider directly owned 54,840 shares in the company, valued at approximately $4,113,548.40. This represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 11,827 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $61.47, for a total value of $727,005.69. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 377,605 shares of company stock valued at $24,893,486. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the company. Danske Bank A S purchased a new position in shares of Etsy in the third quarter worth approximately $66,000. Jacobs Levy Equity Management Inc. grew its position in shares of Etsy by 24.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 236,705 shares of the specialty retailer’s stock valued at $15,715,000 after purchasing an additional 46,364 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Etsy in the third quarter valued at $2,758,000. LGT Financial Advisors LLC purchased a new position in Etsy in the third quarter worth about $133,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Etsy in the third quarter valued at $31,793,000. 99.53% of the stock is owned by institutional investors.

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.