Etsy, Inc. (NASDAQ:ETSY) Given Average Rating of “Hold” by Brokerages

Shares of Etsy, Inc. (NASDAQ:ETSY) have received a consensus rating of “Hold” from the twenty-four brokerages that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $70.61.

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on Etsy in a research note on Thursday, September 5th. They issued a “neutral” rating and a $50.00 price objective for the company. Wolfe Research assumed coverage on Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wedbush reissued a “neutral” rating and issued a $65.00 price objective on shares of Etsy in a research note on Monday, July 22nd. Loop Capital dropped their target price on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Finally, Evercore ISI raised Etsy to a “strong-buy” rating in a research report on Thursday, August 1st.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now directly owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 2,000 shares of company stock valued at $116,395. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ETSY. Norges Bank bought a new position in Etsy in the 4th quarter worth approximately $86,494,000. Marshall Wace LLP increased its position in Etsy by 304.2% in the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock worth $82,703,000 after buying an additional 1,055,296 shares during the period. TD Asset Management Inc increased its position in Etsy by 260.2% in the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after buying an additional 952,907 shares during the period. Renaissance Technologies LLC increased its position in Etsy by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after buying an additional 734,200 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after purchasing an additional 721,454 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Stock Down 0.3 %

Shares of NASDAQ ETSY opened at $53.91 on Monday. Etsy has a 12 month low of $50.63 and a 12 month high of $89.58. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 5.10 and a beta of 1.97. The business has a fifty day simple moving average of $56.67 and a 200-day simple moving average of $61.43.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 earnings per share. As a group, sell-side analysts expect that Etsy will post 2.38 EPS for the current fiscal 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.