Etsy, Inc. (NASDAQ:ETSY) Receives Average Recommendation of "Hold" from Analysts

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

ETSY has been the topic of several analyst reports. UBS Group lowered their price target on Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. B. Riley decreased their price objective on shares of Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the company a "hold" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. boosted their target price on shares of Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, Evercore ISI lowered their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st.

Insider Activity

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at $28,593.60. This represents a 70.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 205,418 shares of company stock worth $11,234,192. Corporate insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC raised its position in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Larson Financial Group LLC grew its stake in Etsy by 8.7% in the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock valued at $144,000 after acquiring an additional 218 shares during the period. Allworth Financial LP grew its position in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 248 shares during the period. Heron Bay Capital Management increased its position in shares of Etsy by 1.3% during the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock worth $1,072,000 after acquiring an additional 258 shares in the last quarter. Finally, Denver PWM LLC increased its holdings in Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock worth $58,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Stock Up 1.2%

Etsy stock opened at $54.53 on Wednesday. Etsy has a 12 month low of $40.05 and a 12 month high of $66.81. The stock has a market cap of $5.69 billion, a P/E ratio of 38.95, a P/E/G ratio of 2.97 and a beta of 1.80. The company's fifty day simple moving average is $49.51 and its 200-day simple moving average is $51.24.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The business had revenue of $651.18 million during 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 company's revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts expect 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.

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