Etsy, Inc. (NASDAQ:ETSY) Receives Average Rating of “Hold” from Analysts

Etsy, Inc. (NASDAQ:ETSY) has earned an average rating of “Hold” from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $84.88.

A number of research firms recently weighed in on ETSY. UBS Group lowered their price target on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Wells Fargo & Company lowered their price target on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Etsy in a report on Friday, March 1st. Barclays raised their price target on shares of Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Finally, Truist Financial decreased their price objective on shares of Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, February 22nd.

Etsy Trading Down 0.2 %

Shares of ETSY stock opened at $67.34 on Friday. The company’s fifty day simple moving average is $69.90 and its 200-day simple moving average is $71.33. Etsy has a 52 week low of $58.20 and a 52 week high of $104.93. The company has a market cap of $7.98 billion, a PE ratio of 30.06, a P/E/G ratio of 4.77 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $842.32 million for the quarter, compared to the consensus estimate of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. Equities research analysts expect that Etsy will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now directly owns 19,682 shares in the company, valued at approximately $1,299,208.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the sale, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock worth $4,836,827 in the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Etsy by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 13,703,486 shares of the specialty retailer’s stock worth $1,703,069,000 after buying an additional 118,034 shares in the last quarter. Capital International Investors grew its stake in shares of Etsy by 0.6% in the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after purchasing an additional 45,305 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Etsy by 26.5% in the 4th quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after purchasing an additional 967,777 shares during the last quarter. Bares Capital Management Inc. grew its stake in shares of Etsy by 0.9% in the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after purchasing an additional 36,623 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Etsy by 13.4% in the 1st quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock worth $429,669,000 after purchasing an additional 409,540 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

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.