Brokerages Set Etsy Inc (NYSE:ETSY) PT at $71.80

Shares of Etsy Inc (NYSE:ETSY) have been assigned a consensus rating of “Hold” from the thirty-three research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $71.80.

ETSY has been the subject of several recent research reports. Argus raised Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Thursday, May 21st. Raymond James Financial cut Etsy from an “outperform” rating to an “outperform” rating in a report on Thursday, May 21st. The Goldman Sachs Group raised shares of Etsy from a “sell” rating to a “neutral” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of Etsy from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, June 12th. Finally, Canaccord Genuity Group upped their price objective on shares of Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 30th.

Insiders Place Their Bets

In other news, insider Josh Silverman sold 97,389 shares of Etsy stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $79.00, for a total value of $7,693,731.00. Following the completion of the sale, the insider owned 130,694 shares in the company, valued at $10,324,826. The trade was a 42.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 2,030 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total transaction of $128,905.00. Following the transaction, the chief financial officer owned 6,913 shares in the company, valued at $438,975.50. The trade was a 22.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 645,303 shares of company stock worth $44,422,788. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its stake in shares of Etsy by 19.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock valued at $282,000 after buying an additional 961 shares during the period. Empowered Funds LLC boosted its holdings in Etsy by 55.5% in the first quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after acquiring an additional 3,451 shares in the last quarter. Woodline Partners LP bought a new position in Etsy in the first quarter worth approximately $2,181,000. Northwestern Mutual Wealth Management Co. grew its stake in Etsy by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock valued at $180,000 after acquiring an additional 906 shares during the period. Finally, M&T Bank Corp acquired a new stake in Etsy in the second quarter valued at approximately $232,000. 99.53% of the stock is owned by institutional investors.

Etsy Stock Down 0.3%

Shares of Etsy stock opened at $76.75 on Friday. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 31.98, a P/E/G ratio of 3.20 and a beta of 1.83. Etsy has a twelve month low of $44.00 and a twelve month high of $80.41. The company’s fifty day moving average is $67.49 and its 200 day moving average is $59.38.

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.