Equities research analysts at Citizens Jmp assumed coverage on shares of Etsy (NASDAQ:ETSY - Get Free Report) in a research note issued to investors on Thursday. The brokerage set a "market perform" rating on the specialty retailer's stock.
Other equities research analysts have also issued research reports about the stock. Bank of America lowered their target price on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their target price on Etsy from $42.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. UBS Group cut their price objective on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Citigroup reduced their target price on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, The Goldman Sachs Group dropped their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $49.91.
Check Out Our Latest Report on Etsy
Etsy Price Performance
Shares of ETSY stock traded up $4.03 on Thursday, reaching $58.16. 7,012,614 shares of the company were exchanged, compared to its average volume of 4,336,157. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 41.54, a PEG ratio of 2.98 and a beta of 1.74. The company has a 50-day moving average of $52.63 and a 200-day moving average of $50.76. Etsy has a one year low of $40.05 and a one year high of $66.81.
Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The firm had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. Etsy's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. As a group, sell-side analysts predict that Etsy will post 2.57 EPS for the current year.
Insiders Place Their Bets
In other Etsy news, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the transaction, the chief technology officer owned 2,896 shares in the company, valued at $136,140.96. This trade represents a 44.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Josh Silverman sold 151,666 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the transaction, the chief executive officer owned 107,809 shares of the company's stock, valued at $6,218,423.12. This represents a 58.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,298 shares of company stock worth $11,156,039 over the last quarter. 2.80% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Etsy
Large investors have recently made changes to their positions in the stock. True Wealth Design LLC boosted its holdings 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 worth $29,000 after acquiring an additional 292 shares during the period. Hurley Capital LLC bought a new position in shares of Etsy in the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Etsy in the fourth quarter valued at approximately $34,000. Summit Securities Group LLC bought a new position in shares of Etsy in the fourth quarter valued at approximately $37,000. Finally, SVB Wealth LLC bought a new position in shares of Etsy in the first quarter valued at approximately $36,000. 99.53% of the stock is owned by institutional investors.
About Etsy
(
Get Free Report)
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.
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