Etsy (NYSE:ETSY) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Etsy from Hold to Strong-Buy, adding to a more bullish near-term view of the stock.
• Despite the upgrade, broader analyst sentiment remains mixed: MarketBeat shows an average rating of Hold with a $71 average price target, while Etsy recently traded at $73.42.
• The stock has also seen notable insider selling and heavy institutional ownership, with insiders selling 451,509 shares worth about $29.5 million over the past 90 days and hedge funds owning 99.53% of shares.

Etsy (NYSE:ETSY - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

ETSY has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on shares of Etsy from $47.00 to $61.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Susquehanna lowered shares of Etsy to a "neutral" rating in a research report on Thursday, May 21st. Guggenheim began coverage on shares of Etsy in a research note on Thursday, May 21st. They set a "buy" rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Etsy from $75.00 to $78.00 and gave the stock a "neutral" rating in a report on Friday, June 12th. Finally, Truist Financial lifted their price objective on shares of Etsy from $83.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $71.00.

Etsy Stock Performance

ETSY stock opened at $73.42 on Monday. The stock has a fifty day moving average of $62.92 and a 200-day moving average of $57.44. Etsy has a fifty-two week low of $44.00 and a fifty-two week high of $76.51. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.88 and a beta of 1.88.

Insider Buying and Selling

In related news, CFO Charles Baker sold 2,030 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total transaction of $128,905.00. Following the completion of the transaction, the chief financial officer owned 6,913 shares of the company's stock, valued at approximately $438,975.50. The trade was a 22.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Richard Edward Colburn III sold 4,776 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $65.09, for a total transaction of $310,869.84. Following the sale, the insider directly owned 6,503 shares in the company, valued at $423,280.27. This trade represents a 42.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 451,509 shares of company stock valued at $29,518,662. Corporate insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. EFG International AG purchased a new stake in shares of Etsy in the fourth quarter worth $33,000. Blue Trust Inc. boosted its stake in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after buying an additional 200 shares during the period. Danske Bank A S purchased a new position in Etsy during the third quarter worth about $66,000. Federation des caisses Desjardins du Quebec grew its position in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock worth $67,000 after buying an additional 225 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Etsy in the 4th quarter worth about $79,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Key Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Etsy was added to Zacks’ Rank #1 (Strong Buy) list, which can boost investor confidence by signaling improving near-term fundamentals or momentum. New Strong Buy Stocks for June 16th
• Positive Sentiment: Another Zacks note called Etsy a strong momentum stock and pointed to its recent outperformance versus the broader market, reinforcing the bullish trading narrative. Here's Why Etsy (ETSY) is a Strong Momentum Stock
• Positive Sentiment: Coverage suggesting Etsy’s anti-Amazon ad campaign is a smart branding move may help support the stock by highlighting marketing efforts to differentiate the platform and attract buyers. Etsy’s Anti-Amazon Ad Campaign Might Be Its Smartest Move Yet
• Neutral Sentiment: Several articles focused on Etsy ads and quirky marketplace listings, which are more about publicity than a direct earnings impact, so the stock reaction is likely limited. Who Needs Bezos? Etsy Ads Highlight 5,000 More-Deserving Jeffs
• Neutral Sentiment: Broader market commentary noted Etsy has outperformed recently and is up sharply over the past six months, which supports the stock’s momentum but does not add a new catalyst. 3 Reasons to Avoid ETSY and 1 Stock to Buy Instead
• Negative Sentiment: A report on Etsy sellers struggling with tariff pressure is a reminder that trade policy and higher costs could be hurting merchant demand and shop economics. Etsy sellers say their previously thriving shops can't rebound from Trump's tariffs

Etsy Company Profile

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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