Jefferies Financial Group Issues Positive Forecast for Etsy (NYSE:ETSY) Stock Price

Etsy (NYSE:ETSY) had its price target hoisted by Jefferies Financial Group from $62.00 to $80.00 in a research note published on Tuesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Argus raised Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Thursday, May 21st. BTIG Research raised their price target on Etsy from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised Etsy from a “sell” rating to a “neutral” rating in a report on Thursday, May 21st. Finally, Wall Street Zen cut Etsy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.80.

Etsy Stock Up 3.4%

Shares of NYSE ETSY opened at $83.28 on Tuesday. The firm’s 50-day moving average price is $69.53 and its 200-day moving average price is $60.63. The company has a market cap of $7.90 billion, a PE ratio of 34.70, a PEG ratio of 3.35 and a beta of 1.83. Etsy has a 52-week low of $44.00 and a 52-week high of $83.36.

Insider Buying and Selling at Etsy

In other news, insider Josh Silverman sold 39,161 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 139,884 shares of the company’s stock, valued at $11,050,836. This trade represents a 21.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total value of $1,487,800.00. Following the transaction, the director directly owned 441,329 shares in the company, valued at approximately $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 783,608 shares of company stock valued at $55,233,061. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after purchasing an additional 594,768 shares during the period. AQR Capital Management LLC raised its position in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after purchasing an additional 1,177,301 shares during the period. Lone Pine Capital LLC bought a new stake in shares of Etsy during the 3rd quarter valued at $257,614,000. Van ECK Associates Corp lifted its stake in shares of Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after buying an additional 39,067 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after buying an additional 1,112,520 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.