Etsy (NASDAQ:ETSY) Stock Price Up 3.9% – Time to Buy?

Etsy, Inc. (NASDAQ:ETSY) shares were up 3.9% during trading on Tuesday . The company traded as high as $47.50 and last traded at $47.64. Approximately 631,021 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,589,961 shares. The stock had previously closed at $45.86.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and upped their price target for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and decreased their price target for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Truist Financial lowered their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Moffett Nathanson upped their price objective on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. began coverage on shares of Etsy in a report on Wednesday, March 19th. They set a “neutral” rating and a $50.00 target price for the company. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Etsy currently has a consensus rating of “Hold” and an average target price of $58.42.

Etsy Trading Up 3.5 %

The company’s 50 day moving average price is $51.41 and its two-hundred day moving average price is $52.79. The firm has a market cap of $5.08 billion, a PE ratio of 20.13, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. Equities research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the sale, the insider now owns 20,698 shares of the company’s stock, valued at $1,044,835.04. The trade was a 6.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Etsy

Several institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC boosted its stake in Etsy by 55.7% in 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 period. True Wealth Design LLC lifted its holdings in shares of 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 buying an additional 292 shares in the last quarter. Hurley Capital LLC bought a new position in shares of Etsy during the fourth quarter worth $32,000. Strategic Investment Solutions Inc. IL purchased a new position in Etsy during the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC bought a new stake in Etsy in the 4th quarter valued at $37,000. Hedge funds and other 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.