Etsy, Inc. (NASDAQ:ETSY) Receives $58.38 Average PT from Analysts

Etsy, Inc. (NASDAQ:ETSY) has earned a consensus recommendation of “Hold” from the twenty-seven research firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $57.71.

A number of analysts have recently commented on ETSY shares. Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and cut their price objective for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Etsy in a report on Thursday, February 20th. Wells Fargo & Company cut their target price on shares of Etsy from $47.00 to $46.00 and set an “underweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Cantor Fitzgerald decreased their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,952 shares of company stock worth $2,554,620. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. True Wealth Design LLC boosted its holdings in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the period. Hurley Capital LLC acquired a new position in Etsy in the 4th quarter valued at about $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Etsy during the fourth quarter worth about $34,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Etsy during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Down 1.0 %

Etsy stock opened at $43.58 on Friday. Etsy has a 52 week low of $40.05 and a 52 week high of $71.72. The business’s 50-day moving average price is $48.99 and its 200 day moving average price is $51.96. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts expect that Etsy will post 2.57 EPS for the current 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.