Etsy (NASDAQ:ETSY) Rating Increased to Strong Sell at Arete Research

Etsy (NASDAQ:ETSY - Get Free Report) was upgraded by Arete Research to a "strong sell" rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently issued reports on ETSY. Morgan Stanley reduced their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. B. Riley reduced their price target on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI decreased their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Etsy from $42.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, Stifel Nicolaus decreased their target price on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $50.17.

Etsy Trading Down 5.6%

ETSY traded down $3.30 during trading on Wednesday, reaching $55.99. 10,589,250 shares of the company were exchanged, compared to its average volume of 4,167,147. Etsy has a 52 week low of $40.05 and a 52 week high of $66.81. The firm has a 50 day moving average of $48.73 and a 200 day moving average of $51.26. The stock has a market cap of $5.84 billion, a P/E ratio of 23.62, a PEG ratio of 2.57 and a beta of 1.80.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). The firm had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm's revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 EPS. As a group, analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $28,593.60. This trade represents a 70.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Insiders sold 205,418 shares of company stock valued at $11,234,192 in the last quarter. Company insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Etsy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its stake in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC boosted its holdings in Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares in the last quarter. Hurley Capital LLC acquired a new position in Etsy during the fourth quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Etsy during the fourth quarter worth $34,000. Finally, Allworth Financial LP raised its holdings in Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after buying an additional 248 shares in the last quarter. Institutional investors own 99.53% of the company's stock.

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.