Etsy (NYSE:ETSY) Stock Rating Upgraded by Argus

Etsy (NYSE:ETSY) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $67.00 price target on the stock. Argus’ price objective suggests a potential upside of 10.16% from the company’s previous close.

ETSY has been the topic of several other reports. Zacks Research cut shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Cantor Fitzgerald lifted their price target on Etsy from $51.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Raymond James Financial restated an “outperform” rating and issued a $75.00 price target on shares of Etsy in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on Etsy from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $64.00 target price on Etsy in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Etsy has an average rating of “Hold” and a consensus target price of $70.75.

Etsy Stock Performance

NYSE ETSY opened at $60.82 on Thursday. Etsy has a one year low of $44.00 and a one year high of $76.51. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 5.13 and a beta of 1.89. The stock’s 50-day simple moving average is $56.86.

Etsy (NYSE:ETSY) last posted its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%.The business had revenue of $881.64 million during the quarter. As a group, analysts anticipate that Etsy will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Charles Baker sold 2,030 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total value of $128,905.00. Following the completion of the transaction, the chief financial officer directly owned 6,913 shares of the company’s stock, valued at approximately $438,975.50. This trade represents a 22.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Josh Silverman sold 88,350 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $64.18, for a total transaction of $5,670,303.00. Following the sale, the insider directly owned 130,694 shares in the company, valued at $8,387,940.92. This trade represents a 40.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 278,569 shares of company stock worth $17,728,487 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in Etsy by 627.2% during the first quarter. Janus Henderson Group PLC now owns 279,407 shares of the company’s stock worth $13,962,000 after purchasing an additional 240,986 shares during the period. Smith Group Asset Management LLC bought a new stake in Etsy in the first quarter valued at approximately $532,000. California State Teachers Retirement System raised its stake in Etsy by 16.4% in the first quarter. California State Teachers Retirement System now owns 103,342 shares of the company’s stock valued at $5,165,000 after buying an additional 14,567 shares during the period. Readystate Asset Management LP acquired a new stake in shares of Etsy in the first quarter valued at approximately $3,169,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Etsy by 4.9% during the 1st quarter. Quantinno Capital Management LP now owns 533,497 shares of the company’s stock worth $26,664,000 after acquiring an additional 25,026 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.