Etsy Inc (NYSE:ETSY) Receives Average Rating of “Hold” from Analysts

Shares of Etsy Inc (NYSE:ETSY) have been assigned a consensus recommendation of “Hold” from the thirty analysts that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $60.80.

ETSY has been the subject of several recent research reports. BNP Paribas Exane assumed coverage on Etsy in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Barclays upgraded shares of Etsy from an “equal weight” rating to an “overweight” rating and set a $72.00 target price on the stock in a research report on Thursday, February 19th. Wells Fargo & Company reduced their target price on shares of Etsy from $52.00 to $47.00 and set an “underweight” rating on the stock in a report on Friday, February 20th. BTIG Research decreased their price target on shares of Etsy from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, Cantor Fitzgerald dropped their price target on shares of Etsy from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, February 20th.

Etsy Stock Up 1.1%

Shares of ETSY opened at $54.71 on Friday. Etsy has a 52 week low of $40.05 and a 52 week high of $76.51. The company has a market cap of $5.27 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 3.44 and a beta of 1.74. The firm has a fifty day moving average price of $54.86.

Etsy (NYSE:ETSY) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.The business had revenue of $881.64 million for the quarter.

Etsy announced that its board has authorized a share buyback plan on Thursday, December 18th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Etsy news, insider Josh Silverman sold 86,666 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $57.46, for a total value of $4,979,828.36. Following the sale, the insider owned 90,661 shares in the company, valued at approximately $5,209,381.06. The trade was a 48.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Merilee Buckley sold 5,636 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $58.45, for a total value of $329,424.20. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,058 shares of company stock valued at $6,576,362 in the last three months. Insiders own 2.80% of the company’s stock.

Institutional Trading of Etsy

Several institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its stake in Etsy by 19.1% during the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after buying an additional 961 shares during the last quarter. Empowered Funds LLC lifted its holdings in Etsy by 55.5% in the first quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after buying an additional 3,451 shares during the period. Woodline Partners LP bought a new stake in Etsy during the first quarter valued at $2,181,000. PNC Financial Services Group Inc. boosted its position in Etsy by 26.3% during the second quarter. PNC Financial Services Group Inc. now owns 6,886 shares of the company’s stock valued at $345,000 after acquiring an additional 1,436 shares during the last quarter. Finally, Creative Planning grew its holdings in Etsy by 15.0% during the 2nd quarter. Creative Planning now owns 13,494 shares of the company’s stock worth $677,000 after acquiring an additional 1,757 shares during the period. 99.53% of the stock is currently owned by institutional investors.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.