Etsy Inc. (ETSY) Trading 7.2% Higher
Etsy Inc. (NASDAQ:ETSY)’s share price traded up 7.2% on Wednesday . The stock traded as high as $15.00 and last traded at $14.48, with a volume of 3,362,511 shares. The stock had previously closed at $13.51.
Several research firms recently weighed in on ETSY. TheStreet raised shares of Etsy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. RBC Capital Markets reissued a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Etsy in a research note on Friday, August 5th. Zacks Investment Research cut shares of Etsy from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Loop Capital began coverage on shares of Etsy in a research note on Tuesday, September 13th. They issued a “hold” rating and a $14.00 target price for the company. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $13.50 target price (up from $11.50) on shares of Etsy in a research note on Monday, September 12th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $13.94.
The stock’s market capitalization is $1.62 billion. The firm has a 50 day moving average price of $13.83 and a 200-day moving average price of $10.33.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The company had revenue of $85.35 million for the quarter, compared to the consensus estimate of $80.55 million. During the same quarter last year, the company posted ($0.07) EPS. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, analysts forecast that Etsy Inc. will post ($0.06) EPS for the current fiscal year.
In related news, Director Frederick R. Wilson sold 216,399 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $13.61, for a total transaction of $2,945,190.39. Following the completion of the sale, the director now owns 822,062 shares in the company, valued at $11,188,263.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Allspaw sold 63,468 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total value of $793,350.00. Following the sale, the insider now owns 66,864 shares of the company’s stock, valued at approximately $835,800. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Etsy by 341.2% in the second quarter. BlackRock Inc. now owns 10,615 shares of the company’s stock worth $102,000 after buying an additional 8,209 shares during the period. TFS Capital LLC acquired a new position in shares of Etsy during the second quarter worth about $102,000. Legal & General Group Plc increased its position in shares of Etsy by 1,829.4% in the second quarter. Legal & General Group Plc now owns 11,017 shares of the company’s stock worth $104,000 after buying an additional 10,446 shares during the period. ProShare Advisors LLC acquired a new position in shares of Etsy during the second quarter worth about $123,000. Finally, Pacad Investment Ltd. acquired a new position in shares of Etsy during the first quarter worth about $131,000. Institutional investors and hedge funds own 58.14% of the company’s stock.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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