Etsy Inc (NYSE:ETSY) Given Average Recommendation of “Hold” by Analysts

Shares of Etsy Inc (NYSE:ETSY) have been assigned a consensus rating of “Hold” from the thirty-three brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $71.80.

A number of research analysts have recently commented on ETSY shares. B. Riley Financial cut Etsy from a “buy” rating to a “neutral” rating and upped their target price for the company from $70.00 to $75.00 in a research note on Thursday, April 30th. President Capital raised shares of Etsy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $91.00 in a research report on Thursday. Bank of America upped their target price on shares of Etsy from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Wells Fargo & Company lifted their target price on Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Finally, BTIG Research upped their target price on Etsy from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th.

Insider Buying and Selling

In related news, insider Richard Edward Colburn III sold 4,776 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $65.09, for a total transaction of $310,869.84. Following the completion of the sale, the insider directly owned 6,503 shares in the company, valued at $423,280.27. This represents a 42.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Charles Baker sold 2,030 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total transaction of $128,905.00. Following the completion of the sale, the chief financial officer owned 6,913 shares in the company, valued at $438,975.50. This represents a 22.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 651,377 shares of company stock worth $44,720,839 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently bought and sold shares of ETSY. EFG International AG acquired a new position in Etsy during the 4th quarter valued at about $33,000. Danske Bank A S acquired a new position in shares of Etsy in the third quarter valued at about $66,000. Federation des caisses Desjardins du Quebec raised its stake in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after purchasing an additional 225 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the last quarter. Finally, MAI Capital Management increased its stake in shares of Etsy by 215.0% in the third quarter. MAI Capital Management now owns 1,320 shares of the company’s stock worth $88,000 after acquiring an additional 901 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Up 0.4%

ETSY stock opened at $78.04 on Friday. Etsy has a twelve month low of $44.00 and a twelve month high of $79.90. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 3.11 and a beta of 1.88. The firm’s fifty day simple moving average is $66.20 and its two-hundred day simple moving average is $58.61.

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.