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

Shares of Etsy Inc (NYSE:ETSY) have been assigned a consensus recommendation of “Hold” from the thirty-two ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $75.36.

A number of research analysts have commented on the stock. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Guggenheim began coverage on shares of Etsy in a research report on Thursday, May 21st. They issued a “buy” rating for the company. Wells Fargo & Company upped their target price on shares of Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group upped their target price on shares of Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, UBS Group raised shares of Etsy from a “neutral” rating to a “neutral” rating in a research report on Thursday, May 21st.

Etsy Trading Down 1.6%

ETSY stock opened at $80.35 on Thursday. The firm has a 50 day simple moving average of $72.17 and a 200-day simple moving average of $61.79. The company has a market capitalization of $7.63 billion, a P/E ratio of 33.48, a PEG ratio of 3.20 and a beta of 1.83. Etsy has a twelve month low of $44.00 and a twelve month high of $87.14.

Insider Buying and Selling at Etsy

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the transaction, the director owned 441,329 shares of the company’s stock, valued at $32,830,464.31. This trade represents a 4.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 39,161 shares of Etsy stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $79.00, for a total value of $3,093,719.00. Following the completion of the transaction, the insider owned 139,884 shares of the company’s stock, valued at approximately $11,050,836. The trade was a 21.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 658,943 shares of company stock worth $47,305,981 over the last quarter. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. EFG International AG acquired a new stake in Etsy during the fourth quarter worth about $33,000. Danske Bank A S acquired a new position in Etsy in the third quarter valued at approximately $66,000. CoreCap Advisors LLC boosted its stake in Etsy by 2,379.1% in the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock valued at $80,000 after acquiring an additional 1,023 shares during the period. Federation des caisses Desjardins du Quebec grew its holdings in shares of Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after purchasing an additional 225 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares during the last quarter. 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.