Etsy Inc (NYSE:ETSY) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Etsy, with 13 buy, 3 strong-buy, 17 hold and 1 sell rating. The average 12-month price target is $85.46 versus the stock’s reported $71.75 price.
• Etsy’s latest quarter showed mixed results: revenue of $668.31 million exceeded estimates, but the company reported a $0.49 per-share loss, missing the $0.75 consensus profit estimate; revenue also declined 0.7% year over year.
• Insiders sold heavily, with $36.6 million of shares sold over the past three months, including sales by CEO Josh Silverman and director Frederick Wilson. Institutional investors own approximately 99.53% of Etsy’s shares.

Shares of Etsy Inc (NYSE:ETSY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirty-four research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $85.4643.

ETSY has been the subject of several research reports. Wedbush started coverage on Etsy in a research report on Thursday, July 16th. They issued a "neutral" rating and a $80.00 target price for the company. Susquehanna cut shares of Etsy to a "neutral" rating in a research report on Thursday, May 21st. Canaccord Genuity Group set a $92.00 price objective on shares of Etsy in a research note on Thursday, August 6th. Jefferies Financial Group raised their price objective on shares of Etsy from $62.00 to $80.00 and gave the company a "hold" rating in a research note on Tuesday, July 14th. Finally, Evercore set a $83.00 price objective on shares of Etsy in a report on Thursday, August 6th.

Etsy Stock Up 0.8%

NYSE:ETSY opened at $71.75 on Friday. Etsy has a 52 week low of $44.00 and a 52 week high of $87.97. The stock's fifty day moving average is $81.03 and its two-hundred day moving average is $68.19. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth ratio of 1.78 and a beta of 1.81.

Etsy (NYSE:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($1.24). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The firm had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The company's quarterly revenue was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Etsy will post 3.94 EPS for the current fiscal year.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 97,389 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $79.00, for a total value of $7,693,731.00. Following the sale, the insider directly owned 130,694 shares in the company, valued at approximately $10,324,826. This trade represents a 42.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total value of $1,487,800.00. Following the completion of the sale, the director owned 441,329 shares in the company, valued at approximately $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 471,017 shares of company stock valued at $36,593,674 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its holdings in Etsy by 10.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,584 shares of the company's stock worth $345,000 after purchasing an additional 429 shares during the period. Engineers Gate Manager LP boosted its stake in shares of Etsy by 56.2% in the 2nd quarter. Engineers Gate Manager LP now owns 77,568 shares of the company's stock valued at $5,843,000 after buying an additional 27,908 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Etsy during the second quarter worth about $226,000. Allworth Financial LP grew its position in shares of Etsy by 37.8% during the second quarter. Allworth Financial LP now owns 1,808 shares of the company's stock worth $136,000 after buying an additional 496 shares in the last quarter. Finally, Empirical Finance LLC purchased a new stake in shares of Etsy during the second quarter worth approximately $267,000. 99.53% of the stock is owned by institutional investors and hedge funds.

About Etsy

Etsy, Inc operates a global online marketplace that connects buyers with independent sellers offering handmade, personalized and vintage goods, as well as craft supplies. Its marketplace includes products such as jewelry, clothing, home décor, art, gifts and party supplies.

The company provides tools and services that support commerce on its platform, including seller storefronts, search and discovery features, payment processing, advertising, shipping solutions and customer support. Etsy primarily serves individual entrepreneurs and small businesses seeking to reach consumers interested in distinctive and creatively designed products.

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

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