Etsy, Inc. (NASDAQ:ETSY) Receives Consensus Recommendation of "Hold" from Brokerages

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) has been given an average rating of "Hold" by the twenty-five brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $50.14.

ETSY has been the topic of a number of research reports. Cantor Fitzgerald raised their price objective on Etsy from $42.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Canaccord Genuity Group reduced their price target on shares of Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Loop Capital dropped their price objective on shares of Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a research 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 on the stock in a report on Friday, April 25th. Finally, The Goldman Sachs Group decreased their target price on Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research report on Thursday, May 1st.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the sale, the insider now directly owns 20,698 shares of the company's stock, valued at approximately $1,044,835.04. This represents a 6.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. Insiders have sold a total of 53,752 shares of company stock valued at $2,473,662 in the last quarter. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Etsy

Large investors have recently bought and sold shares of the business. Lindbrook Capital LLC lifted its holdings in shares of Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC increased its position in 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 buying an additional 292 shares during the period. Hurley Capital LLC bought a new stake in Etsy in the fourth quarter valued at $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Etsy during the fourth quarter valued at $34,000. Finally, Allworth Financial LP grew its position in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 248 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Etsy Stock Up 6.1%

Shares of Etsy stock traded up $2.88 during trading on Friday, hitting $50.48. 8,615,803 shares of the company were exchanged, compared to its average volume of 3,929,145. Etsy has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The firm has a 50 day moving average price of $45.63 and a 200 day moving average price of $50.66. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. During the same period in the prior year, the firm earned $0.48 EPS. Etsy's revenue for the quarter was up .8% on a year-over-year basis. Analysts predict that Etsy will post 2.57 earnings per share for the current year.

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.