Etsy (NASDAQ:ETSY) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued on Friday, MarketBeat.com reports. They currently have a $17.00 target price on the specialty retailer’s stock. Morgan Stanley’s price objective suggests a potential downside of 13.00% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, January 9th. BidaskClub downgraded shares of Etsy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. Stifel Nicolaus reiterated a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Etsy in a research note on Tuesday, November 7th. Piper Jaffray Companies reiterated a “neutral” rating and set a $14.50 price objective on shares of Etsy in a research note on Wednesday, October 4th. Finally, Ifs Securities reiterated an “outperform” rating and set a $22.00 price objective (up from $18.00) on shares of Etsy in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.19.
Etsy (NASDAQ:ETSY) opened at $19.54 on Friday. Etsy has a 52 week low of $9.41 and a 52 week high of $21.86. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.19. The company has a market cap of $2,378.29, a price-to-earnings ratio of 78.16, a price-to-earnings-growth ratio of 3.81 and a beta of 1.17.
In other news, Director Frederick R. Wilson sold 87,938 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $16.24, for a total value of $1,428,113.12. Following the transaction, the director now directly owns 822,062 shares in the company, valued at approximately $13,350,286.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System lifted its position in shares of Etsy by 0.9% in the 3rd quarter. California Public Employees Retirement System now owns 385,600 shares of the specialty retailer’s stock worth $6,509,000 after buying an additional 3,400 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Etsy in the 3rd quarter worth about $315,000. Jane Street Group LLC bought a new position in shares of Etsy in the 3rd quarter worth about $363,000. Goodnow Investment Group LLC lifted its position in shares of Etsy by 0.5% in the 3rd quarter. Goodnow Investment Group LLC now owns 1,378,286 shares of the specialty retailer’s stock worth $23,265,000 after buying an additional 6,720 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Etsy in the 3rd quarter worth about $1,187,000. Institutional investors own 74.40% of the company’s stock.
About Etsy
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
