Etsy (NASDAQ:ETSY) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Etsy (NASDAQ:ETSY - Free Report) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $50.00 price objective on the specialty retailer's stock.

Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald decreased their target price on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Moffett Nathanson upped their price objective on shares of Etsy from $60.00 to $61.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Morgan Stanley reduced their price objective on shares of Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a research report on Thursday, February 20th. Truist Financial reduced their price objective on shares of Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Loop Capital reduced their price objective on shares of Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Etsy currently has an average rating of "Hold" and a consensus price target of $58.42.

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Etsy Trading Up 0.4 %

Shares of ETSY stock traded up $0.18 during trading hours on Wednesday, hitting $45.11. The company's stock had a trading volume of 11,112,880 shares, compared to its average volume of 3,589,848. The company has a 50 day moving average of $51.57 and a 200 day moving average of $52.86. The stock has a market cap of $4.83 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy has a 12-month low of $43.43 and a 12-month high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to analysts' expectations of $861.37 million. During the same period in the previous year, the business posted $0.62 EPS. The business's revenue was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that Etsy will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Josh Silverman sold 21,666 shares of the firm'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 completion of the transaction, the chief executive officer now owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the transaction, the insider now directly owns 20,698 shares of the company's stock, valued at approximately $1,044,835.04. The trade was a 6.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock valued at $1,286,445 over the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ETSY. Victory Capital Management Inc. boosted its stake in shares of Etsy by 422.1% in the third quarter. Victory Capital Management Inc. now owns 101,099 shares of the specialty retailer's stock valued at $5,614,000 after purchasing an additional 81,734 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Etsy by 17.0% in the third quarter. Mutual of America Capital Management LLC now owns 17,259 shares of the specialty retailer's stock valued at $958,000 after purchasing an additional 2,502 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer's stock valued at $6,576,000 after purchasing an additional 85,396 shares during the period. Quest Partners LLC boosted its stake in shares of Etsy by 887.6% in the third quarter. Quest Partners LLC now owns 24,097 shares of the specialty retailer's stock valued at $1,338,000 after purchasing an additional 21,657 shares during the period. Finally, LMR Partners LLP acquired a new stake in Etsy in the third quarter valued at approximately $659,000. 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.