Etsy, Inc. (NASDAQ:ETSY) Receives $84.88 Average PT from Brokerages

Etsy, Inc. (NASDAQ:ETSY) has been assigned a consensus recommendation of “Hold” from the twenty-three analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $84.46.

Several equities analysts recently commented on ETSY shares. UBS Group cut their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. BTIG Research cut their target price on Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Etsy in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft cut their target price on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group downgraded Etsy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $84.00 to $80.00 in a research report on Wednesday, January 10th.

Insider Activity

In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the sale, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ETSY. CVA Family Office LLC bought a new position in shares of Etsy in the 4th quarter worth $27,000. Operose Advisors LLC bought a new position in shares of Etsy in the 3rd quarter worth $28,000. Sunbelt Securities Inc. lifted its holdings in Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 358 shares during the period. Finally, Tompkins Financial Corp acquired a new position in Etsy in the fourth quarter valued at about $41,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Trading Up 0.5 %

Shares of ETSY stock opened at $67.20 on Friday. The stock has a 50 day moving average of $69.12 and a two-hundred day moving average of $71.50. Etsy has a 12 month low of $58.20 and a 12 month high of $102.81. The company has a market capitalization of $7.87 billion, a P/E ratio of 30.00, a P/E/G ratio of 4.76 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The company had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Sell-side analysts predict that Etsy will post 2.58 earnings per share 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.