Loop Capital Initiates Coverage on Etsy Inc. (ETSY)
Several other brokerages have also 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 set a $13.00 price target (up previously from $11.00) on shares of Etsy in a research report on Friday, August 5th. Zacks Investment Research cut shares of Etsy from a buy rating to a hold rating in a research report on Monday, August 22nd. Morgan Stanley reissued an equal weight rating and set a $13.50 price target (up previously from $11.50) on shares of Etsy in a research report on Monday, September 12th. Finally, Maxim Group increased their price target on shares of Etsy from $12.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday, August 3rd. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $13.37.
Etsy (NASDAQ:ETSY) opened at 13.57 on Tuesday. Etsy has a 12 month low of $6.04 and a 12 month high of $16.73. The stock’s market cap is $1.51 billion. The stock has a 50 day moving average of $13.37 and a 200-day moving average of $10.15.
Etsy (NASDAQ:ETSY) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The company had revenue of $85.35 million for the quarter, compared to analysts’ expectations of $80.55 million. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. On average, equities analysts forecast that Etsy will post ($0.06) EPS for the current fiscal year.
In other Etsy news, Director Frederick R. Wilson sold 216,399 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $13.61, for a total transaction of $2,945,190.39. Following the sale, the director now owns 822,062 shares of the company’s stock, valued at $11,188,263.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Allspaw sold 63,468 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total transaction of $793,350.00. Following the sale, the insider now directly owns 66,864 shares in the company, valued at approximately $835,800. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ETSY. BlackRock Inc. boosted its stake in 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 last quarter. TFS Capital LLC bought a new stake in Etsy during the second quarter worth $102,000. Legal & General Group Plc boosted its stake in 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 last quarter. ProShare Advisors LLC bought a new stake in Etsy during the second quarter worth $123,000. Finally, Pacad Investment Ltd. bought a new stake in Etsy during the first quarter worth $131,000. 58.14% of the stock is currently owned by institutional investors.
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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