Etsy Inc (NYSE:ETSY) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Etsy has a consensus analyst recommendation of “Hold” from 29 covering analysts, with an average 1-year price target of about $70.09.
• Recent analyst actions have been mixed: Guggenheim and Canaccord Genuity raised their price targets and kept buy ratings, while Jefferies, Zacks Research, and Wall Street Zen either lowered targets or downgraded the stock to hold.
• Insider selling has been notable, including sales by Josh Silverman and Richard Edward Colburn III; insiders sold 278,569 shares worth about $17.7 million over the last quarter.

Shares of Etsy Inc (NYSE:ETSY - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty-nine analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $70.0870.

A number of equities analysts have issued reports on ETSY shares. Guggenheim raised their price objective on shares of Etsy from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Jefferies Financial Group cut their price target on Etsy from $62.00 to $55.00 and set a "hold" rating on the stock in a research note on Thursday, February 12th. Zacks Research lowered Etsy from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Wall Street Zen cut Etsy from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Canaccord Genuity Group upped their price objective on Etsy from $72.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, April 30th.

Insider Activity

In other Etsy news, insider Josh Silverman sold 88,350 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $64.18, for a total value of $5,670,303.00. Following the completion of the transaction, the insider directly owned 130,694 shares of the company's stock, valued at approximately $8,387,940.92. The trade was a 40.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $65.09, for a total value of $310,869.84. Following the completion of the transaction, the insider owned 6,503 shares of the company's stock, valued at $423,280.27. This represents a 42.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 278,569 shares of company stock worth $17,724,416 over the last quarter. Corporate insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Etsy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. EFG International AG acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $33,000. Abich Financial Wealth Management LLC acquired a new position in shares of Etsy during the 3rd quarter worth approximately $51,000. Blue Trust Inc. raised its stake in Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after acquiring an additional 200 shares during the period. Danske Bank A S acquired a new stake in Etsy during the 3rd quarter valued at $66,000. Finally, Federation des caisses Desjardins du Quebec lifted its holdings in Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock valued at $67,000 after purchasing an additional 225 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Stock Performance

NYSE ETSY opened at $64.33 on Friday. The stock's 50 day simple moving average is $56.14. Etsy has a one year low of $44.00 and a one year high of $76.51. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 5.71 and a beta of 1.89.

Etsy (NYSE:ETSY - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $881.64 million for the quarter. Etsy had a net margin of 9.94% and a negative return on equity of 28.60%. On average, research analysts anticipate that Etsy will post 3.74 earnings per share for the current year.

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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