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

Research analysts at JPMorgan Chase & Co. began coverage on shares of Etsy (NASDAQ:ETSY) in a research report issued on Wednesday,Benzinga reports. The firm set a “neutral” rating and a $50.00 price target on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.96% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Truist Financial lowered their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Cantor Fitzgerald lowered their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. UBS Group lowered their price objective on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and lowered their price objective for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Etsy presently has a consensus rating of “Hold” and an average price target of $58.42.

Etsy Price Performance

ETSY opened at $44.66 on Wednesday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. The firm has a 50 day simple moving average of $52.06 and a 200 day simple moving average of $53.07. Etsy has a fifty-two week low of $43.75 and a fifty-two week high of $71.72.

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

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of Etsy 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 owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,666 shares of company stock valued at $1,286,445. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in Etsy by 422.1% in the 3rd quarter. Victory Capital Management Inc. now owns 101,099 shares of the specialty retailer’s stock worth $5,614,000 after purchasing an additional 81,734 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in Etsy by 17.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 17,259 shares of the specialty retailer’s stock worth $958,000 after purchasing an additional 2,502 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Etsy by 258.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock worth $6,576,000 after purchasing an additional 85,396 shares in the last quarter. Quest Partners LLC raised its stake in Etsy by 887.6% in the 3rd quarter. Quest Partners LLC now owns 24,097 shares of the specialty retailer’s stock worth $1,338,000 after purchasing an additional 21,657 shares in the last quarter. Finally, LMR Partners LLP acquired a new stake in Etsy in the 3rd quarter worth about $659,000. Institutional investors own 99.53% of the company’s stock.

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.