Etsy Inc (NYSE:ETSY) Given Average Rating of “Hold” by Brokerages

Shares of Etsy Inc (NYSE:ETSY) have received a consensus rating of “Hold” from the thirty research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $60.80.

Several research firms have weighed in on ETSY. Deutsche Bank Aktiengesellschaft lowered their price objective on Etsy from $63.00 to $54.00 and set a “hold” rating on the stock in a research report on Tuesday, February 24th. Jefferies Financial Group decreased their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. Cantor Fitzgerald lowered their price target on shares of Etsy from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Morgan Stanley dropped their price objective on shares of Etsy from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, February 20th. Finally, Needham & Company LLC cut their price objective on shares of Etsy from $76.00 to $65.00 and set a “buy” rating for the company in a report on Friday, February 20th.

Etsy Price Performance

Shares of ETSY stock opened at $54.71 on Friday. The stock’s 50 day moving average is $54.86. The firm has a market capitalization of $5.27 billion, a P/E ratio of 41.76, a PEG ratio of 3.44 and a beta of 1.74. Etsy has a 12-month low of $40.05 and a 12-month high of $76.51.

Etsy (NYSE:ETSY) last posted its earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $881.64 million for the quarter. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.

Etsy announced that its Board of Directors has initiated a share buyback program on Thursday, December 18th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 14.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CAO Merilee Buckley sold 5,636 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $58.45, for a total transaction of $329,424.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.26, for a total value of $1,153,931.16. Following the completion of the transaction, the insider owned 90,661 shares in the company, valued at $4,828,604.86. The trade was a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 116,058 shares of company stock worth $6,576,362. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

A number of institutional investors have recently modified their holdings of the business. EFG International AG bought a new stake in shares of Etsy during the 4th quarter valued at approximately $33,000. Elevation Point Wealth Partners LLC acquired a new position in Etsy during the 2nd quarter worth approximately $35,000. Employees Retirement System of Texas bought a new position in Etsy in the 2nd quarter valued at approximately $47,000. SJS Investment Consulting Inc. lifted its stake in Etsy by 12,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the company’s stock valued at $51,000 after purchasing an additional 756 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in Etsy in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.