Etsy Inc (NYSE:ETSY) Given Average Rating of “Hold” by Brokerages

Etsy Inc (NYSE:ETSY) has received an average recommendation of “Hold” from the thirty-two analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $70.8750.

Several research firms have issued reports on ETSY. Morgan Stanley set a $64.00 price objective on Etsy in a report on Wednesday, April 29th. Zacks Research cut shares of Etsy from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Cantor Fitzgerald lifted their target price on shares of Etsy from $51.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Raymond James Financial lowered shares of Etsy from an “outperform” rating to an “outperform” rating in a report on Thursday, May 21st. Finally, Canaccord Genuity Group upped their price target on shares of Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, April 30th.

Insider Activity at Etsy

In other news, CAO Merilee Buckley sold 1,993 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $52.92, for a total value of $105,469.56. Following the completion of the sale, the chief accounting officer owned 809 shares in the company, valued at $42,812.28. This represents a 71.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $65.09, for a total value of $310,869.84. Following the completion of the sale, the insider directly owned 6,503 shares of the company’s stock, valued at approximately $423,280.27. This trade represents a 42.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 296,779 shares of company stock worth $18,861,313. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several institutional investors and hedge funds have recently bought and sold shares of ETSY. Integrated Wealth Concepts LLC boosted its holdings in shares of 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 purchasing an additional 961 shares during the period. Empowered Funds LLC increased its stake in Etsy by 55.5% in the 1st 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 acquired a new position in Etsy in the 1st quarter valued at approximately $2,181,000. Northwestern Mutual Wealth Management Co. lifted its position in Etsy by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after buying an additional 906 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Etsy during the 2nd quarter valued at $232,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Up 0.8%

Shares of NYSE ETSY opened at $69.58 on Wednesday. Etsy has a 12 month low of $44.00 and a 12 month high of $76.51. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 2.85 and a beta of 1.88. The business has a fifty day simple moving average of $58.66 and a 200-day simple moving average of $56.34.

Etsy Company Profile

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.