Etsy (NASDAQ:ETSY) Shares Up 3.9% - What's Next?

Etsy, Inc. (NASDAQ:ETSY - Get Free Report)'s stock price was up 3.9% during mid-day trading on Friday . The company traded as high as $55.30 and last traded at $55.04. Approximately 2,110,687 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 3,958,325 shares. The stock had previously closed at $52.99.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price objective on shares of Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. UBS Group cut their target price on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. B. Riley decreased their price target on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Bank of America lowered their price objective on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their target price on Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $50.14.

Etsy Stock Up 2.5%

The firm's 50 day simple moving average is $46.39 and its 200 day simple moving average is $50.70. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its 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). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm's revenue was up .8% compared to the same quarter last year. Analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.24, for a total transaction of $72,360.00. Following the transaction, the insider now owns 34,822 shares in the company, valued at $1,679,813.28. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the sale, the chief technology officer now owns 2,896 shares of the company's stock, valued at approximately $136,140.96. This trade represents a 44.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,252 shares of company stock valued at $2,397,942. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Etsy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock worth $651,056,000 after purchasing an additional 56,772 shares during the period. Renaissance Technologies LLC raised its holdings in Etsy by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock worth $286,751,000 after buying an additional 235,550 shares during the period. AQR Capital Management LLC lifted its stake in Etsy by 423.7% during the first quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock valued at $218,890,000 after buying an additional 3,768,787 shares in the last quarter. Van ECK Associates Corp lifted its stake in Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after buying an additional 522,111 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Etsy by 112.8% in the first quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock worth $132,273,000 after buying an additional 1,486,142 shares during the period. Institutional investors and hedge funds 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.