Etsy (NASDAQ:ETSY) Upgraded at Arete Research

Arete Research upgraded shares of Etsy (NASDAQ:ETSYFree Report) to a strong sell rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on ETSY. Evercore ISI decreased their target price on shares of Etsy from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the stock a “hold” rating in a research note on Monday, April 14th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Wednesday, April 30th. Bank of America decreased 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, April 8th. Finally, Stifel Nicolaus decreased their target price on shares of Etsy from $51.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.17.

View Our Latest Analysis on Etsy

Etsy Stock Down 5.6%

Shares of NASDAQ:ETSY opened at $55.99 on Wednesday. The firm’s 50 day moving average price is $49.04 and its 200-day moving average price is $51.27. Etsy has a twelve month low of $40.05 and a twelve month high of $66.81. The stock has a market capitalization of $5.84 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.57 and a beta of 1.80.

Etsy (NASDAQ:ETSYGet Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. During the same quarter last year, the company earned $0.48 EPS. Etsy’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Etsy 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 business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the transaction, the chief executive officer now owns 31,818 shares in the company, valued at $1,534,582.14. The trade was a 40.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,418 shares of company stock worth $11,234,192. Insiders own 2.80% of the company’s stock.

Institutional Trading of Etsy

A number of large investors have recently made changes to their positions in ETSY. Lindbrook Capital LLC boosted its stake in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the period. True Wealth Design LLC lifted its stake in 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 acquiring an additional 292 shares during the period. Hurley Capital LLC purchased a new stake in Etsy in the fourth quarter worth about $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Etsy in the fourth quarter worth about $34,000. Finally, Allworth Financial LP lifted its stake in Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 248 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

About Etsy

(Get Free Report)

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.

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