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

Key Points

• Etsy, Inc. has received an average recommendation of "Hold" from 28 analysts, with 5 sell ratings, 15 hold ratings, and 8 buy ratings.
• The company's recent quarterly report showed earnings per share of $0.25, missing analyst expectations of $0.54, despite revenues of $672.66 million surpassing estimates.
• CEO Josh Silverman sold 21,666 shares of Etsy stock in August, marking a substantial decrease in his ownership, as insiders sold a total of 355,024 shares recently.

Shares of Etsy, Inc. (NASDAQ:ETSY - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-eight analysts that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $56.76.

Several analysts recently weighed in on ETSY shares. Evercore ISI cut their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Citigroup cut their target price on Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. UBS Group reaffirmed a "neutral" rating and issued a $67.00 price target on shares of Etsy in a research report on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised 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.

Insider Buying and Selling at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $58.76, for a total transaction of $1,273,094.16. Following the completion of the sale, the chief executive officer directly owned 62,674 shares in the company, valued at approximately $3,682,724.24. The trade was a 25.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the transaction, the chief technology officer owned 2,896 shares in the company, valued at $136,140.96. The trade was a 44.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 355,024 shares of company stock worth $21,368,211. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Prospera Financial Services Inc bought a new stake in Etsy during the second quarter valued at about $805,000. AGF Management Ltd. purchased a new position in shares of Etsy during the 2nd quarter valued at about $3,022,000. Summit Investment Advisors Inc. grew its stake in shares of Etsy by 4.5% during the 1st quarter. Summit Investment Advisors Inc. now owns 28,533 shares of the specialty retailer's stock valued at $1,346,000 after acquiring an additional 1,223 shares during the period. Fox Run Management L.L.C. purchased a new stake in Etsy in the 2nd quarter worth approximately $396,000. Finally, Modera Wealth Management LLC raised its stake in Etsy by 45.0% during the 2nd quarter. Modera Wealth Management LLC now owns 20,428 shares of the specialty retailer's stock worth $1,025,000 after acquiring an additional 6,340 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $56.20 on Thursday. The firm has a market capitalization of $5.57 billion, a P/E ratio of 45.32, a P/E/G ratio of 3.55 and a beta of 1.73. The stock has a 50 day moving average price of $57.31 and a 200-day moving average price of $51.52. Etsy has a 52-week low of $40.05 and a 52-week high of $68.45.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly 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). The firm had revenue of $672.66 million during the quarter, compared to analysts' expectations of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%. Etsy's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. On average, equities analysts forecast that Etsy will post 2.57 EPS 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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