Analysts Set Etsy Inc (NYSE:ETSY) PT at $85.46

Shares of Etsy Inc (NYSE:ETSY) have received a consensus recommendation of “Moderate Buy” from the thirty-five research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $85.6207.

A number of brokerages recently commented on ETSY. B. Riley Financial upped their target price on Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Canaccord Genuity Group set a $92.00 price target on shares of Etsy in a research report on Thursday, August 6th. President Capital upgraded shares of Etsy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $91.00 in a research note on Thursday, June 25th. Oppenheimer raised shares of Etsy from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Tuesday. Finally, Evercore set a $83.00 price objective on shares of Etsy in a research note on Thursday, August 6th.

Etsy Price Performance

NYSE ETSY opened at $72.31 on Friday. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 1.83 and a beta of 1.81. The stock’s fifty day moving average price is $80.68 and its 200 day moving average price is $68.88. Etsy has a 1 year low of $44.00 and a 1 year high of $87.97.

Etsy (NYSE:ETSY) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The firm had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. Research analysts expect that Etsy will post 3.94 earnings per share for the current year.

Insider Activity at Etsy

In other Etsy news, insider Josh Silverman sold 97,389 shares of Etsy stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the completion of the transaction, the insider owned 130,694 shares in the company, valued at approximately $10,324,826. This trade represents a 42.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 8,252 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the transaction, the insider directly owned 6,503 shares of the company’s stock, valued at approximately $533,831.27. This trade represents a 55.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 368,538 shares of company stock worth $29,085,228 over the last three months. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. William Blair Investment Management LLC purchased a new position in shares of Etsy in the 2nd quarter valued at about $120,417,000. SG Americas Securities LLC raised its holdings in Etsy by 717.7% in the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after purchasing an additional 1,314,071 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares in the last quarter. Findlay Park Partners LLP purchased a new position in Etsy during the second quarter worth approximately $66,170,000. Finally, Norges Bank acquired a new stake in Etsy in the fourth quarter valued at approximately $33,903,000. 99.53% of the stock is owned by institutional investors and hedge funds.

About Etsy

Etsy, Inc operates a global online marketplace that connects buyers with independent sellers offering handmade, personalized and vintage goods, as well as craft supplies. Its marketplace includes products such as jewelry, clothing, home décor, art, gifts and party supplies.

The company provides tools and services that support commerce on its platform, including seller storefronts, search and discovery features, payment processing, advertising, shipping solutions and customer support. Etsy primarily serves individual entrepreneurs and small businesses seeking to reach consumers interested in distinctive and creatively designed products.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.