Etsy, Inc. (NASDAQ:ETSY) Given Average Rating of "Hold" by Brokerages

Key Points

• Etsy, Inc. has received an average consensus rating of "Hold" from twenty-eight analysts, with three sell ratings, seventeen holds, and eight buy ratings.
• The average twelve-month target price set by analysts for Etsy shares is $57.80, with recent target increases reported by Guggenheim and Deutsche Bank.
• Insiders have sold a significant amount of shares recently, including the CEO who sold 70,000 shares valued at $4.55 million, indicating a 52.76% decrease in their ownership.

Shares of Etsy, Inc. (NASDAQ:ETSY - Get Free Report) have been given a consensus recommendation of "Hold" by the twenty-eight analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $57.80.

A number of research firms recently weighed in on ETSY. Guggenheim reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Etsy in a report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald upped their price objective on shares of Etsy from $52.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Sanford C. Bernstein raised their price objective on shares of Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. Finally, Stifel Nicolaus increased their price target on Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a report on Tuesday, July 29th.

Insider Buying and Selling

In related news, Director M Michele Burns sold 14,464 shares of Etsy stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $62.82, for a total value of $908,628.48. Following the completion of the transaction, the director directly owned 19,964 shares of the company's stock, valued at $1,254,138.48. The trade was a 42.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 70,000 shares of the business's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $65.00, for a total value of $4,550,000.00. Following the sale, the chief executive officer directly owned 62,674 shares of the company's stock, valued at $4,073,810. This represents a 52.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 386,482 shares of company stock worth $23,680,691 in the last three months. Company insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently modified their holdings of ETSY. Wealth Enhancement Advisory Services LLC lifted its stake in Etsy by 125.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the specialty retailer's stock valued at $923,000 after acquiring an additional 9,718 shares in the last quarter. 111 Capital acquired a new stake in shares of Etsy during the 4th quarter worth $310,000. Kera Capital Partners Inc. acquired a new stake in Etsy in the first quarter valued at about $231,000. Versant Capital Management Inc raised its position in Etsy by 1,066.3% in the first quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock valued at $454,000 after purchasing an additional 8,797 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Etsy by 6,477.2% in the first quarter. GAMMA Investing LLC now owns 90,963 shares of the specialty retailer's stock valued at $4,292,000 after purchasing an additional 89,580 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Price Performance

ETSY opened at $63.60 on Friday. Etsy has a 12-month low of $40.05 and a 12-month high of $70.57. The firm's fifty day moving average price is $60.12 and its 200 day moving average price is $53.29. The stock has a market capitalization of $6.30 billion, a PE ratio of 51.29, a P/E/G ratio of 4.08 and a beta of 1.77.

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $672.66 million for the quarter, compared to the consensus estimate of $645.16 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

Etsy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.