Etsy Inc (NYSE:ETSY) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts broadly rate Etsy “Hold.” Among 32 brokerages, 20 recommend holding the stock, 10 rate it a buy, one rates it a strong buy, and one recommends selling; the average 12-month price target is $81.50.
• Etsy shares opened at $80.07, near the analyst consensus target, with a 52-week range of $44.00 to $87.97 and a market capitalization of approximately $7.6 billion.
• Insiders sold heavily in the latest quarter, disposing of 604,262 shares worth about $45.1 million, while institutional investors remain dominant owners, holding 99.53% of the company’s stock.

Etsy Inc (NYSE:ETSY - Get Free Report) has received an average recommendation of "Hold" from the thirty-two brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $81.50.

ETSY has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Etsy from a "buy" rating to a "hold" rating in a report on Sunday, May 31st. Barclays upped their price target on shares of Etsy from $82.00 to $94.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Jefferies Financial Group increased their price target on shares of Etsy from $62.00 to $80.00 and gave the stock a "hold" rating in a research report on Tuesday, July 14th. Roth Capital began coverage on shares of Etsy in a research note on Thursday, May 21st. They issued a "buy" rating on the stock. Finally, Citigroup boosted their price objective on shares of Etsy from $60.00 to $92.00 and gave the company a "neutral" rating in a research report on Friday, August 7th.

Etsy Stock Up 0.2%

ETSY stock opened at $80.07 on Monday. Etsy has a 52 week low of $44.00 and a 52 week high of $87.97. The business has a 50-day simple moving average of $78.65 and a 200 day simple moving average of $64.40. The company has a market cap of $7.60 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 5.47 and a beta of 1.84.

Insider Buying and Selling at Etsy

In related news, Director Frederick R. Wilson sold 20,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total transaction of $1,664,400.00. Following the completion of the sale, the director directly owned 421,329 shares in the company, valued at $35,062,999.38. This represents a 4.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.89, for a total value of $9,281,549.70. Following the completion of the sale, the insider directly owned 130,694 shares in the company, valued at $9,003,509.66. This trade represents a 50.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 604,262 shares of company stock worth $45,085,166. Corporate insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ETSY. Integrated Wealth Concepts LLC lifted its holdings in shares of Etsy by 19.1% in the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company's stock worth $282,000 after acquiring an additional 961 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Etsy by 55.5% in the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company's stock valued at $456,000 after purchasing an additional 3,451 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Etsy during the 1st quarter valued at approximately $2,181,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Etsy by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company's stock valued at $180,000 after purchasing an additional 906 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Etsy during the 2nd quarter worth approximately $232,000. Institutional investors and hedge funds own 99.53% of the company's stock.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

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