Etsy, Inc. (NASDAQ:ETSY) Receives Consensus Recommendation of "Hold" from Brokerages

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) has been assigned a consensus rating of "Hold" from the twenty-four research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $64.87.

Several research firms have weighed in on ETSY. Wolfe Research began coverage on Etsy in a report on Tuesday, July 16th. They set a "peer perform" rating for the company. Cantor Fitzgerald restated a "neutral" rating and set a $50.00 price target on shares of Etsy in a report on Monday, October 7th. UBS Group dropped their target price on Etsy from $65.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Evercore ISI upgraded Etsy to a "strong-buy" rating in a report on Thursday, August 1st. Finally, Wedbush dropped their target price on Etsy from $65.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd.

Insider Buying and Selling

In related news, insider Toni Thompson Nadal sold 1,443 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now directly owns 592 shares in the company, valued at $30,257.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the sale, the insider now owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the business's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Insiders have sold a total of 5,369 shares of company stock worth $280,200 in the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Trading of Etsy

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Etsy by 68.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,968 shares of the specialty retailer's stock worth $754,000 after buying an additional 4,474 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Etsy by 26.2% in the first quarter. Janney Montgomery Scott LLC now owns 11,078 shares of the specialty retailer's stock worth $761,000 after buying an additional 2,299 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Etsy by 10.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,555 shares of the specialty retailer's stock worth $313,000 after buying an additional 424 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Etsy by 79.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,059 shares of the specialty retailer's stock worth $485,000 after buying an additional 3,122 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Etsy by 30.3% in the first quarter. Rehmann Capital Advisory Group now owns 5,005 shares of the specialty retailer's stock worth $344,000 after buying an additional 1,165 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Trading Up 0.9 %

ETSY traded up $0.46 on Tuesday, hitting $52.73. 3,321,791 shares of the company's stock traded hands, compared to its average volume of 3,765,768. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 6.19 and a beta of 1.99. The company's 50 day simple moving average is $52.54 and its 200-day simple moving average is $57.91. Etsy has a one year low of $47.10 and a one year high of $89.58.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $662.40 million for the quarter, compared to analysts' expectations of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, equities analysts anticipate that Etsy will post 2.27 EPS for the current fiscal year.

Etsy declared that its board has approved a stock buyback program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

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.