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

Shares of Etsy, Inc. (NASDAQ:ETSY) have been assigned an average rating of “Hold” from the twenty-six research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $58.78.

Several analysts have weighed in on ETSY shares. Loop Capital lowered their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, February 20th. Morgan Stanley decreased their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Moffett Nathanson upped their target price on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Canaccord Genuity Group decreased their target price on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, UBS Group decreased their target price on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 20th.

Insider Activity

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock worth $1,286,445 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently made changes to their positions in ETSY. Amalgamated Bank boosted its holdings in Etsy by 9.9% in the third quarter. Amalgamated Bank now owns 37,176 shares of the specialty retailer’s stock valued at $2,064,000 after purchasing an additional 3,351 shares during the period. Principal Financial Group Inc. increased its position in Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after acquiring an additional 411,165 shares during the period. Capital Performance Advisors LLP acquired a new position in Etsy in the 3rd quarter valued at about $43,000. Assetmark Inc. increased its position in Etsy by 9.0% during the 3rd quarter. Assetmark Inc. now owns 24,411 shares of the specialty retailer’s stock worth $1,356,000 after purchasing an additional 2,025 shares during the period. Finally, Meritage Portfolio Management increased its position in Etsy by 152.4% during the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock worth $14,698,000 after purchasing an additional 159,820 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Trading Up 2.8 %

Shares of NASDAQ ETSY opened at $45.65 on Monday. Etsy has a 12 month low of $43.75 and a 12 month high of $71.72. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.57 and a beta of 2.23. The business has a 50-day moving average of $52.62 and a 200-day moving average of $53.31.

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

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.