Etsy, Inc. (NASDAQ:ETSY) Given Average Recommendation of "Hold" by Brokerages

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twenty-three analysts that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $73.68.

A number of analysts recently weighed in on the stock. B. Riley decreased their price target on shares of Etsy from $91.00 to $83.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. Wolfe Research started coverage on Etsy in a report on Tuesday, July 16th. They issued a "peer perform" rating for the company. BTIG Research reduced their price target on shares of Etsy from $87.00 to $78.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Citigroup dropped their target price on shares of Etsy from $72.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, May 2nd. Finally, JMP Securities downgraded shares of Etsy from an "outperform" rating to a "market perform" rating in a report on Thursday, May 2nd.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares in the company, valued at $1,125,083.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now directly owns 18,833 shares of the company's stock, valued at $1,125,083.42. The disclosure for this sale can be found here. In the last three months, insiders sold 2,694 shares of company stock valued at $169,687. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ETSY. Vanguard Group Inc. boosted its holdings in shares of Etsy by 0.7% in the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer's stock worth $929,695,000 after buying an additional 91,900 shares during the period. Capital International Investors grew its position in Etsy by 0.6% during the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer's stock worth $662,605,000 after purchasing an additional 45,305 shares in the last quarter. Van ECK Associates Corp raised its stake in Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer's stock valued at $339,964,000 after purchasing an additional 721,454 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer's stock valued at $248,623,000 after purchasing an additional 734,200 shares in the last quarter. Finally, Bares Capital Management Inc. boosted its position in shares of Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer's stock worth $330,711,000 after buying an additional 36,623 shares during the period. Institutional investors own 99.53% of the company's stock.

Etsy Stock Performance

Shares of ETSY stock traded down $0.85 during mid-day trading on Thursday, hitting $53.79. 2,447,711 shares of the stock were exchanged, compared to its average volume of 3,592,546. The stock's fifty day simple moving average is $58.53 and its two-hundred day simple moving average is $64.50. Etsy has a 12-month low of $51.45 and a 12-month high of $89.58. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 5.02 and a beta of 2.02.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The firm had revenue of $647.80 million for the quarter, compared to analysts' expectations of $629.87 million. During the same quarter in the prior year, the business earned $0.83 EPS. The company's quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Etsy will post 2.43 earnings per share for the current fiscal year.

Etsy Company Profile

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.