Etsy, Inc. (NASDAQ:ETSY) Given Average Rating of "Hold" by Analysts

Shares of Etsy, Inc. (NASDAQ:ETSY - Get Free Report) have been given a consensus recommendation of "Hold" by the twenty-six research firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $58.78.

Several brokerages have issued reports on ETSY. Citigroup dropped their target price on Etsy from $56.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Loop Capital lowered their target price on Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus reduced their price target on Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research report on Thursday, February 20th. JMP Securities reaffirmed a "market perform" rating on shares of Etsy in a research note on Monday, December 16th. Finally, Canaccord Genuity Group cut their price objective on Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, February 20th.

Etsy Stock Down 2.5 %

ETSY traded down $1.21 during midday trading on Monday, hitting $47.44. 1,958,683 shares of the company traded hands, compared to its average volume of 3,549,626. The company's 50-day moving average is $53.17 and its 200 day moving average is $53.53. Etsy has a 52 week low of $45.85 and a 52 week high of $73.48. The firm has a market capitalization of $5.08 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

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Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analysts' expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. On average, sell-side analysts predict that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently bought and sold shares of ETSY. Amalgamated Bank lifted its stake in shares of Etsy by 9.9% during the 3rd quarter. Amalgamated Bank now owns 37,176 shares of the specialty retailer's stock worth $2,064,000 after purchasing an additional 3,351 shares during the last quarter. Principal Financial Group Inc. increased its position in Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock valued at $30,125,000 after buying an additional 411,165 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Etsy during the third quarter valued at about $43,000. Assetmark Inc. raised its position in shares of Etsy by 9.0% in the 3rd quarter. Assetmark Inc. now owns 24,411 shares of the specialty retailer's stock valued at $1,356,000 after purchasing an additional 2,025 shares during the last quarter. Finally, Meritage Portfolio Management boosted its stake in Etsy by 152.4% in the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer's stock worth $14,698,000 after purchasing an additional 159,820 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.