Etsy (NASDAQ:ETSY) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Etsy (NASDAQ:ETSY - Free Report) in a research report released on Thursday, Marketbeat reports. The firm issued a neutral rating and a $50.00 price objective on the specialty retailer's stock.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company cut their target price on Etsy from $58.00 to $56.00 and set an underweight rating on the stock in a research note on Tuesday, June 25th. Oppenheimer lowered shares of Etsy from an outperform rating to a market perform rating in a research note on Thursday, August 1st. Truist Financial cut their price target on shares of Etsy from $77.00 to $76.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Evercore ISI upgraded Etsy to a strong-buy rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus dropped their target price on Etsy from $65.00 to $64.00 and set a hold rating on the stock in a report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $70.61.

Etsy Stock Performance

ETSY remained flat at $55.57 during trading on Thursday. 3,067,616 shares of the company's stock were exchanged, compared to its average volume of 3,589,410. The stock has a market capitalization of $6.50 billion, a P/E ratio of 25.37, a P/E/G ratio of 5.44 and a beta of 2.02. Etsy has a 1 year low of $51.45 and a 1 year high of $89.58. The company's 50 day moving average price is $57.68 and its two-hundred day moving average price is $62.99.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same period in the prior year, the firm posted $0.83 earnings per share. The company's revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Etsy will post 2.37 EPS for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares of the company's stock, valued at approximately $1,001,798.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now owns 18,083 shares of the company's stock, valued at $1,001,798.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,444 shares of company stock worth $211,237. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ETSY. Polen Capital Management LLC increased its holdings in Etsy by 83.3% in the 4th quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer's stock valued at $2,782,000 after buying an additional 15,598 shares during the period. MCF Advisors LLC raised its position in Etsy by 23,542.9% during the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer's stock valued at $227,000 after purchasing an additional 3,296 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Etsy during the fourth quarter worth $267,000. TD Asset Management Inc boosted its holdings in shares of Etsy by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer's stock valued at $105,861,000 after purchasing an additional 221,275 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of Etsy by 2.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer's stock valued at $126,068,000 after purchasing an additional 30,561 shares during the last quarter. Institutional investors and hedge funds 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.