Etsy Inc (NYSE:ETSY) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Etsy has a “Moderate Buy” consensus rating from 35 brokerages, with 14 buy, three strong-buy, 17 hold and one sell recommendation. The average 12-month price target is $86.21.
• Recent analysts issued targets ranging from $86 to $105, while Rosenblatt Securities and Seaport Research Partners upgraded the stock to “buy.”
• Etsy’s latest quarter showed revenue of $668.31 million, exceeding estimates, but adjusted earnings missed expectations; revenue declined 0.7% year over year. Insiders sold roughly $13.1 million of stock over the past three months, while institutions own 99.53% of shares.

Shares of Etsy Inc (NYSE:ETSY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirty-five brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seventeen have issued a hold recommendation, fourteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $86.21.

Several research analysts have recently weighed in on the stock. Loop Capital set a $105.00 price target on shares of Etsy in a report on Thursday, August 20th. UBS Group raised their price objective on shares of Etsy from $74.00 to $86.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Weiss Ratings cut shares of Etsy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Rosenblatt Securities started coverage on shares of Etsy in a research note on Thursday, August 20th. They issued a "buy" rating and a $95.00 target price for the company. Finally, Seaport Research Partners upgraded Etsy to a "buy" rating in a report on Thursday, August 20th.

Insider Transactions at Etsy

In other Etsy news, insider Richard Edward Colburn III sold 8,252 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the sale, the insider owned 6,503 shares in the company, valued at approximately $533,831.27. The trade was a 55.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $81.86, for a total value of $1,637,200.00. Following the transaction, the director directly owned 401,329 shares of the company's stock, valued at approximately $32,852,791.94. This trade represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 159,954 shares of company stock valued at $13,064,903 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Etsy

A number of institutional investors have recently made changes to their positions in ETSY. Renaissance Technologies LLC increased its stake in Etsy by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company's stock valued at $297,991,000 after buying an additional 594,768 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company's stock worth $207,022,000 after buying an additional 39,067 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company's stock valued at $163,841,000 after acquiring an additional 1,112,520 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Etsy by 48.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company's stock valued at $121,532,000 after acquiring an additional 523,092 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Etsy in the second quarter valued at about $120,417,000. Institutional investors own 99.53% of the company's stock.

Etsy Price Performance

NYSE ETSY opened at $71.04 on Tuesday. Etsy has a one year low of $44.00 and a one year high of $87.97. The firm has a market cap of $6.74 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.82 and a beta of 1.86. The stock's 50-day moving average is $78.04 and its 200-day moving average is $70.34.

Etsy (NYSE:ETSY - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. Etsy's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Equities analysts anticipate that Etsy will post 3.94 EPS for the current year.

About Etsy

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.

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