Etsy, Inc. (NASDAQ:ETSY) Receives $49.87 Average PT from Brokerages

Shares of Etsy, Inc. (NASDAQ:ETSY - Get Free Report) have earned an average rating of "Hold" from the twenty-seven research firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $49.87.

ETSY has been the subject of several research reports. B. Riley lowered their price objective on shares of Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Etsy and gave the company a "hold" rating in a report on Monday, April 14th. Morgan Stanley reduced their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Bank of America decreased their price objective on Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald lifted their target price on Etsy from $42.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 151,666 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $57.68, for a total value of $8,748,094.88. Following the completion of the sale, the chief executive officer now directly owns 107,809 shares of the company's stock, valued at $6,218,423.12. The trade was a 58.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $48.24, for a total transaction of $72,360.00. Following the completion of the sale, the insider now directly owns 34,822 shares of the company's stock, valued at approximately $1,679,813.28. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 205,418 shares of company stock valued at $11,234,192 in the last three months. Company insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Etsy

Several large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in Etsy by 112.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock valued at $132,273,000 after buying an additional 1,486,142 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Etsy by 10.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,343 shares of the specialty retailer's stock worth $205,000 after purchasing an additional 412 shares during the period. Bayforest Capital Ltd lifted its position in shares of Etsy by 396.3% in the 1st quarter. Bayforest Capital Ltd now owns 4,283 shares of the specialty retailer's stock worth $202,000 after purchasing an additional 3,420 shares during the period. Optimize Financial Inc lifted its position in shares of Etsy by 49.0% in the 1st quarter. Optimize Financial Inc now owns 14,756 shares of the specialty retailer's stock worth $696,000 after purchasing an additional 4,850 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Etsy in the 1st quarter worth approximately $2,181,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Performance

Shares of ETSY traded up $0.86 during midday trading on Wednesday, hitting $56.16. 6,411,911 shares of the company traded hands, compared to its average volume of 4,221,797. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 3.09 and a beta of 1.80. The firm has a 50 day moving average of $50.22 and a 200-day moving average of $51.20. Etsy has a 52 week low of $40.05 and a 52 week high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results 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 6.69% and a negative return on equity of 39.60%. The firm had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The firm's revenue was up .8% compared to the same quarter last year. Sell-side analysts predict 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.