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

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-eight research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $49.91.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Needham & Company LLC restated a "buy" rating and set a $60.00 price objective on shares of Etsy in a report on Wednesday, April 30th. Barclays dropped their price objective on Etsy from $55.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Canaccord Genuity Group dropped their price objective on Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley dropped their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a report on Thursday, May 1st.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $51.37, for a total transaction of $1,112,982.42. Following the sale, the chief executive officer owned 62,674 shares in the company, valued at approximately $3,219,563.38. The trade was a 25.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $47.01, for a total value of $110,473.50. Following the sale, the chief technology officer owned 2,896 shares in the company, valued at approximately $136,140.96. The trade was a 44.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,298 shares of company stock worth $11,156,039. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Etsy

Several large investors have recently added to or reduced their stakes in ETSY. Diversified Trust Co boosted its stake in shares of Etsy by 16.8% in the second quarter. Diversified Trust Co now owns 19,663 shares of the specialty retailer's stock worth $986,000 after buying an additional 2,834 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new stake in shares of Etsy in the second quarter worth about $252,000. Harbor Capital Advisors Inc. boosted its stake in shares of Etsy by 5.3% in the second quarter. Harbor Capital Advisors Inc. now owns 46,850 shares of the specialty retailer's stock worth $2,350,000 after buying an additional 2,360 shares during the last quarter. Gallacher Capital Management LLC purchased a new stake in shares of Etsy in the second quarter worth about $236,000. Finally, Kera Capital Partners Inc. boosted its stake in shares of Etsy by 92.5% in the second quarter. Kera Capital Partners Inc. now owns 9,442 shares of the specialty retailer's stock worth $474,000 after buying an additional 4,538 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Trading Down 0.5%

ETSY traded down $0.29 on Friday, hitting $57.87. 3,410,867 shares of the company's stock traded hands, compared to its average volume of 4,340,438. The company's 50 day simple moving average is $52.91 and its 200-day simple moving average is $50.75. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 41.34, a P/E/G ratio of 3.18 and a beta of 1.74. Etsy has a one year low of $40.05 and a one year high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. As a group, equities analysts anticipate 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.