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

Shares of Etsy, Inc. (NASDAQ:ETSY) have been given a consensus rating of “Hold” by the thirty-one ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $63.88.

A number of brokerages have recently commented on ETSY. Jefferies Financial Group dropped their price objective on shares of Etsy from $70.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Wedbush lowered their price target on shares of Etsy from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Raymond James Financial restated an “outperform” rating and set a $78.00 price target (down previously from $80.00) on shares of Etsy in a research report on Thursday, October 30th. The Goldman Sachs Group lifted their price objective on shares of Etsy from $48.00 to $57.00 and gave the company a “sell” rating in a report on Thursday, October 30th. Finally, Weiss Ratings upgraded shares of Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th.

Insiders Place Their Bets

In related news, insider Josh Silverman sold 86,666 shares of Etsy stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $57.46, for a total value of $4,979,828.36. Following the sale, the insider owned 90,661 shares of the company’s stock, valued at approximately $5,209,381.06. This trade represents a 48.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 11,827 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $61.47, for a total transaction of $727,005.69. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 154,056 shares of company stock worth $8,931,918. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several institutional investors have recently bought and sold shares of ETSY. Heritage Wealth Advisors increased its stake in Etsy by 476.5% during the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after buying an additional 405 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 192 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Etsy during the second quarter worth approximately $35,000. Employees Retirement System of Texas acquired a new position in Etsy in the 2nd quarter valued at $47,000. Finally, SJS Investment Consulting Inc. raised its stake in Etsy by 12,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 756 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Performance

Shares of ETSY opened at $61.84 on Friday. The business’s 50-day moving average is $56.10 and its two-hundred day moving average is $59.89. The company has a market capitalization of $6.10 billion, a P/E ratio of 49.87, a P/E/G ratio of 10.65 and a beta of 1.74. Etsy has a fifty-two week low of $40.05 and a fifty-two week high of $76.51.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. Analysts forecast that Etsy will post 2.57 EPS for the current year.

Etsy announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 18th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 14.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Etsy Company Profile

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.