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

Shares of Etsy, Inc. (NASDAQ:ETSY) have received a consensus recommendation of “Hold” from the twenty-three ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $69.36.

Several equities analysts have commented on the stock. Wedbush restated a “neutral” rating and issued a $65.00 price target on shares of Etsy in a research note on Monday, July 22nd. Piper Sandler reissued a “neutral” rating and set a $56.00 target price on shares of Etsy in a research note on Friday, August 23rd. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price objective on Etsy from $58.00 to $47.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. Finally, Wolfe Research began coverage on shares of Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Nicholas Daniel sold 750 shares of Etsy 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 transaction, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders sold a total of 5,619 shares of company stock worth $300,670 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Yousif Capital Management LLC boosted its holdings in Etsy by 1.1% in the 1st quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock valued at $1,126,000 after purchasing an additional 172 shares in the last quarter. Exchange Capital Management Inc. boosted its stake in shares of Etsy by 1.6% in the first quarter. Exchange Capital Management Inc. now owns 15,364 shares of the specialty retailer’s stock valued at $1,056,000 after buying an additional 240 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in Etsy by 7.0% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,659 shares of the specialty retailer’s stock worth $251,000 after acquiring an additional 240 shares during the period. Meridian Management Co. grew its holdings in Etsy by 0.4% during the second quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock worth $3,740,000 after acquiring an additional 241 shares during the period. Finally, GAMMA Investing LLC raised its position in Etsy by 25.6% in the second quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock worth $73,000 after acquiring an additional 253 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Down 3.4 %

ETSY stock opened at $50.75 on Friday. The business’s fifty day moving average price is $53.53 and its 200 day moving average price is $59.43. Etsy has a 12-month low of $48.07 and a 12-month high of $89.58. The company has a market capitalization of $5.93 billion, a PE ratio of 23.17, a P/E/G ratio of 4.99 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. During the same quarter last year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts predict 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.