Etsy (NASDAQ:ETSY) Upgraded by Weiss Ratings to Hold (C-) Rating

Key Points

• Etsy has been upgraded from a "sell (D+)" to a "hold (C-)" rating by Weiss Ratings, signaling a more neutral stance on the stock's performance.
• An array of analysts have also raised their price targets for Etsy, with Stifel Nicolaus increasing theirs from $45.00 to $66.00 and Raymond James Financial boosting theirs from $50.00 to $70.00, contributing to a consensus price target of $58.73.
• The company's recent quarterly earnings report showed earnings per share of $0.25, missing expectations, while revenue increased 3.8% year-over-year to $672.66 million.

Etsy (NASDAQ:ETSY - Get Free Report) was upgraded by analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also commented on ETSY. Stifel Nicolaus upped their price target on Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price objective on Etsy from $50.00 to $53.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. UBS Group reissued a "neutral" rating and issued a $67.00 price objective on shares of Etsy in a research note on Thursday, July 31st. Finally, Raymond James Financial boosted their price objective on Etsy from $50.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Nine analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Etsy has a consensus rating of "Hold" and a consensus price target of $58.73.

Etsy Stock Performance

ETSY opened at $70.14 on Wednesday. Etsy has a 52-week low of $40.05 and a 52-week high of $76.51. The firm has a market capitalization of $6.95 billion, a PE ratio of 56.56, a PEG ratio of 4.55 and a beta of 1.85. The business's 50-day simple moving average is $61.60 and its 200 day simple moving average is $54.84.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). The firm had revenue of $672.66 million for the quarter, compared to analyst estimates of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. On average, research analysts forecast that Etsy will post 2.57 earnings per share for the current year.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $70.19, for a total transaction of $1,520,736.54. Following the completion of the sale, the chief executive officer directly owned 62,674 shares of the company's stock, valued at approximately $4,399,088.06. This trade represents a 25.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles Andrew Ballard sold 2,400 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $62.42, for a total value of $149,808.00. Following the sale, the director directly owned 5,796 shares of the company's stock, valued at $361,786.32. The trade was a 29.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 542,667 shares of company stock valued at $35,462,857 in the last ninety days. Insiders own 2.80% of the company's stock.

Institutional Trading of Etsy

A number of large investors have recently bought and sold shares of ETSY. Holocene Advisors LP increased its position in Etsy by 697.4% in the second quarter. Holocene Advisors LP now owns 5,343,797 shares of the specialty retailer's stock worth $268,045,000 after buying an additional 4,673,615 shares during the last quarter. AQR Capital Management LLC increased its position in Etsy by 423.7% in the first quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock worth $218,890,000 after buying an additional 3,768,787 shares during the last quarter. Acadian Asset Management LLC increased its position in 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 last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Etsy by 62.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer's stock worth $185,197,000 after acquiring an additional 1,416,772 shares during the period. Finally, Norges Bank bought a new position in shares of Etsy in the second quarter worth $65,207,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.

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