Etsy, Inc. (NASDAQ:ETSY) Receives Average Recommendation of “Hold” from Analysts

Etsy, Inc. (NASDAQ:ETSY) has been assigned a consensus recommendation of “Hold” from the twenty-three ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $84.88.

Several equities analysts recently commented on the stock. Wells Fargo & Company cut their price target on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. The Goldman Sachs Group cut Etsy from a “buy” rating to a “neutral” rating and cut their target price for the company from $84.00 to $80.00 in a research note on Wednesday, January 10th. Morgan Stanley reaffirmed an “underweight” rating and set a $55.00 target price (down previously from $65.00) on shares of Etsy in a research note on Thursday, April 18th. Evercore ISI dropped their price objective on Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Finally, Piper Sandler boosted their target price on shares of Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the transaction, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Josh Silverman sold 63,047 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock worth $4,836,827 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new stake in shares of Etsy during the 4th quarter worth approximately $27,000. Operose Advisors LLC acquired a new stake in shares of Etsy during the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. grew its position in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in Etsy in the fourth quarter valued at approximately $41,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Stock Performance

ETSY stock opened at $68.35 on Friday. Etsy has a fifty-two week low of $58.20 and a fifty-two week high of $103.25. The firm has a market cap of $8.10 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 4.64 and a beta of 2.01. The firm has a fifty day moving average price of $69.30 and a 200 day moving average price of $71.53.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, equities analysts predict that Etsy will post 2.58 EPS for the current year.

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.