Etsy Inc (NYSE:ETSY) Given Consensus Rating of “Hold” by Brokerages

Etsy Inc (NYSE:ETSY) has been assigned a consensus recommendation of “Hold” from the thirty ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $62.00.

A number of research firms have weighed in on ETSY. Needham & Company LLC decreased their price target on shares of Etsy from $76.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Deutsche Bank Aktiengesellschaft cut their price objective on Etsy from $63.00 to $54.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. UBS Group cut their price objective on Etsy from $74.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Finally, Jefferies Financial Group cut their price objective on Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, February 12th.

Etsy Stock Up 0.4%

ETSY stock traded up $0.23 during midday trading on Tuesday, hitting $64.41. 323,134 shares of the company traded hands, compared to its average volume of 3,424,691. Etsy has a twelve month low of $41.51 and a twelve month high of $76.51. The firm’s 50 day simple moving average is $52.61. The company has a market cap of $6.20 billion, a PE ratio of 49.31, a price-to-earnings-growth ratio of 4.04 and a beta of 1.77.

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

Insider Buying and Selling at Etsy

In related news, insider Josh Silverman sold 30,369 shares of Etsy stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $64.00, for a total value of $1,943,616.00. Following the completion of the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at $8,364,416. The trade was a 18.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Etsy stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $55.74, for a total value of $99,774.60. Following the completion of the transaction, the director directly owned 4,006 shares of the company’s stock, valued at $223,294.44. This represents a 30.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 98,636 shares of company stock valued at $5,703,703. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. EFG International AG bought a new position in shares of Etsy in the fourth quarter valued at about $33,000. Salomon & Ludwin LLC bought a new stake in Etsy during the 3rd quarter worth about $55,000. SJS Investment Consulting Inc. raised its holdings in Etsy by 12,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the company’s stock worth $51,000 after purchasing an additional 756 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in Etsy during the 3rd quarter worth about $51,000. Finally, Danske Bank A S bought a new stake in Etsy during the 3rd quarter worth about $66,000. 99.53% of the stock is owned by institutional investors.

About Etsy

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.