JPMorgan Chase & Co. Begins Coverage on Etsy (NASDAQ:ETSY)

JPMorgan Chase & Co. initiated coverage on shares of Etsy (NASDAQ:ETSY) in a research note released on Wednesday, MarketBeat reports. The brokerage issued a neutral rating and a $50.00 target price on the specialty retailer’s stock.

Several other research analysts also recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Citigroup decreased their price target on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. Stifel Nicolaus decreased their price objective on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their target price on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $58.42.

Etsy Trading Up 0.1 %

NASDAQ ETSY opened at $44.72 on Wednesday. Etsy has a 1-year low of $43.43 and a 1-year high of $71.72. The company has a 50 day moving average of $51.88 and a 200-day moving average of $53.02. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.57 and a beta of 2.23.

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

Insider Activity

In related news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the business’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 completion of the sale, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock worth $1,286,445 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC lifted its position in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Larson Financial Group LLC lifted its position in Etsy by 8.7% during the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock worth $144,000 after buying an additional 218 shares in the last quarter. Heron Bay Capital Management boosted its stake in shares of Etsy by 1.3% during the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock worth $1,072,000 after buying an additional 258 shares during the last quarter. Denver PWM LLC grew its holdings in shares of Etsy by 36.1% in the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 289 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of Etsy by 112.7% in the fourth 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 last quarter. Institutional investors own 99.53% of the company’s stock.

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.