Etsy (NASDAQ:ETSY) Rating Increased to Hold at Wedbush

Wedbush upgraded shares of Etsy (NASDAQ:ETSY) to a hold rating in a research note published on Monday morning, Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Etsy in a report on Monday, October 7th. Loop Capital decreased their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. UBS Group decreased their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Oppenheimer downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, Wolfe Research assumed coverage on shares of Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.36.

Etsy Stock Down 4.7 %

Shares of Etsy stock opened at $49.33 on Monday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 4.99 and a beta of 1.97. The business has a 50-day moving average price of $53.34 and a 200-day moving average price of $59.04. Etsy has a twelve month low of $48.07 and a twelve month high of $89.58.

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

Insiders Place Their Bets

In other Etsy news, insider Toni Thompson Nadal sold 1,443 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 $73,751.73. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now directly owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 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 $73,751.73. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $30,257.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,619 shares of company stock valued at $300,670. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Etsy by 0.7% during the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after purchasing an additional 91,900 shares during the period. Van ECK Associates Corp raised its position in shares of Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after acquiring an additional 721,454 shares during the period. Renaissance Technologies LLC raised its position in shares of Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after acquiring an additional 734,200 shares during the period. Pacer Advisors Inc. increased its stake in shares of Etsy by 52.3% during the second quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after purchasing an additional 721,453 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Etsy by 16.8% during the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after purchasing an additional 221,275 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.