Etsy (NASDAQ:ETSY) Research Coverage Started at Wolfe Research

Wolfe Research assumed coverage on shares of Etsy (NASDAQ:ETSY) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued a peer perform rating on the specialty retailer’s stock.

ETSY has been the topic of several other research reports. BTIG Research dropped their price objective on shares of Etsy from $87.00 to $78.00 and set a buy rating on the stock in a report on Thursday, May 2nd. B. Riley decreased their price objective on shares of Etsy from $91.00 to $83.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group decreased their price objective on shares of Etsy from $80.00 to $70.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company decreased their price target on shares of Etsy from $58.00 to $56.00 and set an underweight rating on the stock in a research note on Tuesday, June 25th. Finally, Guggenheim decreased their price target on shares of Etsy from $95.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Etsy has a consensus rating of Hold and an average price target of $79.88.

Etsy Trading Down 2.0 %

ETSY opened at $63.66 on Tuesday. The business’s 50 day moving average is $61.33 and its 200-day moving average is $67.06. The stock has a market cap of $7.44 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 5.34 and a beta of 2.02. Etsy has a twelve month low of $55.08 and a twelve month high of $102.81.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, analysts forecast that Etsy will post 2.49 EPS for the current year.

Insider Activity

In related news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System increased its stake in Etsy by 0.5% in the fourth quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock worth $2,740,000 after purchasing an additional 157 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Etsy by 3.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock valued at $354,000 after acquiring an additional 161 shares during the period. Truist Financial Corp lifted its holdings in Etsy by 2.7% in the fourth quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock valued at $516,000 after acquiring an additional 168 shares during the period. Yousif Capital Management LLC raised its stake in shares of Etsy by 1.1% during the 1st quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock worth $1,126,000 after buying an additional 172 shares during the period. Finally, D.A. Davidson & CO. raised its stake in Etsy by 0.9% in the 4th quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock valued at $1,587,000 after purchasing an additional 184 shares during the last quarter. 99.53% of the stock is currently 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.