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

Etsy, Inc. (NASDAQ:ETSY) has been assigned a consensus recommendation of “Hold” from the twenty-five research firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $50.14.

A number of research analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Etsy from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald increased their price objective on Etsy from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Barclays reduced their target price on Etsy from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price target on shares of Etsy from $50.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Stifel Nicolaus cut their price target on shares of Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd.

Insider Transactions at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $43.07, for a total value of $64,605.00. Following the transaction, the insider now owns 33,322 shares of the company’s stock, valued at $1,435,178.54. The trade was a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,618 shares of company stock valued at $3,469,803 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Etsy in the fourth quarter worth $74,235,000. Assenagon Asset Management S.A. raised its position in Etsy by 132.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after buying an additional 850,520 shares during the last quarter. Victory Capital Management Inc. raised its position in Etsy by 703.8% in the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after buying an additional 711,572 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Etsy by 17.4% during the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Etsy by 89.1% in the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer’s stock worth $47,042,000 after acquiring an additional 419,038 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Price Performance

Shares of ETSY opened at $45.08 on Tuesday. The firm has a market cap of $4.70 billion, a PE ratio of 19.02, a PEG ratio of 2.57 and a beta of 1.78. Etsy has a 1 year low of $40.05 and a 1 year high of $66.93. The stock’s fifty day moving average price is $45.75 and its two-hundred day moving average price is $51.05.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to analysts’ expectations of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. Sell-side analysts anticipate that Etsy will post 2.57 earnings per share for the current fiscal year.

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.