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

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

Several equities analysts have weighed in on ETSY shares. Wolfe Research started coverage on Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Etsy in a research note on Monday, October 7th. Stifel Nicolaus cut their target price on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st.

Etsy Stock Performance

Shares of ETSY stock opened at $51.31 on Friday. The stock’s fifty day moving average is $53.61 and its 200-day moving average is $59.54. The stock has a market capitalization of $6.00 billion, a PE ratio of 23.43, a PEG ratio of 4.99 and a beta of 1.97. Etsy has a 52 week low of $48.07 and a 52 week high of $89.58.

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

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock valued at $300,670 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Etsy by 0.7% in the 1st 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 last quarter. Van ECK Associates Corp grew its position in 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 acquiring an additional 721,454 shares during the last quarter. Renaissance Technologies LLC grew its position in Etsy by 21.1% during the 2nd 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 last quarter. Bares Capital Management Inc. grew its position in Etsy by 0.9% during the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after acquiring an additional 36,623 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after acquiring an additional 721,453 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

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.