Etsy (NASDAQ:ETSY) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Etsy (NASDAQ:ETSY) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued a neutral rating and a $50.00 price objective on the specialty retailer’s stock.

Several other research analysts have also recently commented on the stock. UBS Group decreased their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Loop Capital lowered their price objective on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Etsy in a report on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and lifted their price target for the company from $45.00 to $55.00 in a report on Monday, January 13th. Finally, Wells Fargo & Company increased their price objective on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.42.

Etsy Stock Performance

Etsy stock opened at $44.72 on Wednesday. Etsy has a 1 year low of $43.43 and a 1 year high of $71.72. The firm’s 50 day moving average price is $51.88 and its two-hundred day moving average price is $53.02. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. During the same period in the previous year, the firm earned $0.62 earnings per share. Etsy’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock worth $1,286,445 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. DJE Kapital AG bought a new stake in Etsy in the 4th quarter valued at $983,000. Pacer Advisors Inc. lifted its stake in Etsy by 183.9% during the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after purchasing an additional 3,861,668 shares during the period. Principal Financial Group Inc. boosted its holdings in Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after purchasing an additional 411,165 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Etsy by 258.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after purchasing an additional 85,396 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock worth $59,820,000 after buying an additional 122,126 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.