Etsy (NYSE:ETSY) Stock Rating Lowered by Zacks Research

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

Several other brokerages have also recently weighed in on ETSY. JPMorgan Chase & Co. raised Etsy from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $100.00 in a research note on Friday, August 7th. Argus increased their price objective on shares of Etsy from $67.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Canaccord Genuity Group set a $92.00 price target on shares of Etsy in a research report on Thursday, August 6th. Sanford C. Bernstein raised Etsy from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 11th. Finally, Royal Bank Of Canada lowered Etsy to a “sector perform” rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Etsy has an average rating of “Hold” and an average price target of $86.21.

Etsy Price Performance

Shares of NYSE ETSY opened at $71.56 on Monday. The company has a 50 day simple moving average of $77.74 and a 200 day simple moving average of $70.46. Etsy has a 1 year low of $44.00 and a 1 year high of $87.97. The firm has a market cap of $6.79 billion, a PE ratio of 39.98, a price-to-earnings-growth ratio of 1.77 and a beta of 1.86.

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

Insider Buying and Selling at Etsy

In related news, Director Frederick R. Wilson sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $81.86, for a total transaction of $1,637,200.00. Following the completion of the sale, the director owned 401,329 shares in the company, valued at approximately $32,852,791.94. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Ballard sold 4,500 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $81.85, for a total transaction of $368,325.00. Following the completion of the sale, the director owned 4,239 shares of the company’s stock, valued at approximately $346,962.15. The trade was a 51.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,954 shares of company stock worth $13,064,903 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ETSY. Headlands Technologies LLC bought a new stake in Etsy in the 2nd quarter valued at about $1,045,000. Ieq Capital LLC bought a new position in shares of Etsy in the second quarter worth $4,083,000. Landscape Capital Management L.L.C. bought a new stake in shares of Etsy during the 2nd quarter valued at $6,466,000. Public Employees Retirement System of Ohio bought a new position in Etsy in the 2nd quarter worth about $2,144,000. Finally, Bank of Nova Scotia bought a new stake in shares of Etsy during the second quarter valued at about $18,602,000. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

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