Etsy (NYSE:ETSY) Lowered to Hold Rating by Zacks Research

Etsy (NYSE:ETSY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other analysts have also issued research reports about the company. Jefferies Financial Group cut their target price on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. Wells Fargo & Company cut their target price on Etsy from $52.00 to $47.00 and set an “underweight” rating on the stock in a research report on Friday, February 20th. Wall Street Zen raised Etsy from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Needham & Company LLC cut their target price on Etsy from $76.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $62.00.

Etsy Stock Up 1.5%

ETSY opened at $65.13 on Monday. Etsy has a one year low of $41.51 and a one year high of $76.51. The firm has a market capitalization of $6.27 billion, a PE ratio of 49.72, a PEG ratio of 4.61 and a beta of 1.77. The firm has a 50 day simple moving average of $52.83.

Etsy (NYSE:ETSY) last announced its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $881.64 million for the quarter. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%. As a group, equities analysts predict that Etsy will post 3.62 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Josh Silverman sold 30,369 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $64.00, for a total transaction of $1,943,616.00. Following the sale, the insider owned 130,694 shares of the company’s stock, valued at approximately $8,364,416. This represents a 18.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Andrew Ballard sold 1,790 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total value of $99,774.60. Following the sale, the director directly owned 4,006 shares in the company, valued at $223,294.44. This represents a 30.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 98,636 shares of company stock valued at $5,703,703. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Etsy

A number of large investors have recently modified their holdings of the stock. Aaron Wealth Advisors LLC increased its position in shares of Etsy by 30.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,144 shares of the company’s stock worth $307,000 after acquiring an additional 1,438 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Etsy during the first quarter worth $2,189,000. Cardinal Point Capital Management ULC grew its stake in shares of Etsy by 66.0% during the first quarter. Cardinal Point Capital Management ULC now owns 7,735 shares of the company’s stock worth $387,000 after purchasing an additional 3,075 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Etsy by 717.7% during the first 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 in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

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.