Etsy, Inc. (NASDAQ:ETSY) Given Average Rating of “Hold” by Analysts

Shares of Etsy, Inc. (NASDAQ:ETSY) have been assigned an average rating of “Hold” from the twenty-seven analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $57.71.

Several research analysts recently commented on ETSY shares. UBS Group cut their price target on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Bank of America cut their target price on shares of Etsy from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. Wells Fargo & Company cut their price objective on Etsy from $47.00 to $46.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded Etsy to a “hold” rating and decreased their target price for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock worth $2,554,620 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Etsy by 6,477.2% in the 1st quarter. GAMMA Investing LLC now owns 90,963 shares of the specialty retailer’s stock valued at $4,292,000 after purchasing an additional 89,580 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Etsy by 1,066.3% in the first quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer’s stock valued at $454,000 after purchasing an additional 8,797 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of Etsy during the first quarter valued at approximately $231,000. 111 Capital acquired a new position in shares of Etsy during the fourth quarter worth approximately $310,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Etsy by 125.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the specialty retailer’s stock worth $923,000 after buying an additional 9,718 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Stock Down 6.5 %

Shares of NASDAQ ETSY opened at $40.80 on Friday. The stock has a market capitalization of $4.37 billion, a PE ratio of 17.22, a P/E/G ratio of 2.57 and a beta of 2.15. The firm has a fifty day moving average of $49.67 and a 200-day moving average of $52.18. Etsy has a 52-week low of $40.60 and a 52-week high of $71.72.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million during 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%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. Equities research analysts expect that Etsy will post 2.57 EPS for the current fiscal year.

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.