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

Shares of Etsy, Inc. (NASDAQ:ETSY) have been assigned a consensus recommendation of “Hold” from the twenty-three ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $84.88.

ETSY has been the topic of a number of recent analyst reports. Evercore ISI lowered their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group downgraded shares of Etsy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. UBS Group lowered their price target on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target on shares of Etsy in a report on Friday, March 1st. Finally, Truist Financial lowered their price target on shares of Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd.

Etsy Price Performance

NASDAQ:ETSY opened at $67.34 on Friday. The firm has a market capitalization of $7.98 billion, a P/E ratio of 30.06, a PEG ratio of 4.77 and a beta of 2.01. Etsy has a 1-year low of $58.20 and a 1-year high of $104.93. The company’s fifty day moving average price is $69.90 and its 200-day moving average price is $71.33.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. The firm had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. Equities analysts anticipate that Etsy will post 2.57 EPS for the current fiscal year.

Insider Transactions at Etsy

In related news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now directly owns 19,682 shares in the company, valued at $1,299,208.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,968 shares of company stock valued at $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Institutional investors have recently made changes to their positions in the stock. First Capital Advisors Group LLC. acquired a new stake in shares of Etsy during the second quarter valued at about $25,000. CVA Family Office LLC acquired a new position in shares of Etsy in the fourth quarter valued at approximately $27,000. Operose Advisors LLC acquired a new position in shares of Etsy in the third quarter valued at approximately $28,000. ICA Group Wealth Management LLC acquired a new position in shares of Etsy in the fourth quarter valued at approximately $28,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

About Etsy

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.