Etsy Inc (NYSE:ETSY) Stock Has Average Price Target of $94.07

Etsy Inc (NYSE:ETSY) has received an average rating of “Hold” from the thirty-three ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $94.07.

ETSY has been the subject of a number of recent analyst reports. Seaport Research Partners raised Etsy to a “buy” rating in a research note on Thursday, August 20th. Oppenheimer raised shares of Etsy from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Tuesday, September 15th. Needham & Company LLC upped their price objective on Etsy from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Wall Street Zen raised Etsy from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Guggenheim upped their price target on Etsy from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th.

Insider Activity

In related news, insider Josh Silverman sold 41,500 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $92.13, for a total transaction of $3,823,395.00. Following the transaction, the insider directly owned 221,117 shares in the company, valued at approximately $20,371,509.21. The trade was a 15.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick R. Wilson sold 28,527 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $91.39, for a total transaction of $2,607,082.53. Following the transaction, the director owned 400,000 shares in the company, valued at $36,556,000. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 142,908 shares of company stock worth $12,443,190. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new stake in shares of Etsy during the 2nd quarter valued at $34,000. EFG International AG acquired a new stake in shares of Etsy during the 2nd quarter worth approximately $45,000. Signaturefd LLC increased its stake in Etsy by 61.8% in the third quarter. Signaturefd LLC now owns 762 shares of the company’s stock valued at $54,000 after acquiring an additional 291 shares during the last quarter. Blue Trust Inc. raised its position in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in shares of Etsy by 2,379.1% in the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock valued at $80,000 after purchasing an additional 1,023 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Stock Down 1.6%

Shares of ETSY opened at $90.08 on Friday. The stock’s fifty day simple moving average is $79.61 and its 200-day simple moving average is $68.98. The firm has a market capitalization of $7.77 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 1.96 and a beta of 1.76. Etsy has a 12-month low of $44.00 and a 12-month high of $97.85.

Etsy (NYSE:ETSY) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $7.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $6.55. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The business had revenue of $692.47 million during the quarter, compared to the consensus estimate of $669.04 million. During the same period in the previous year, the firm posted $0.63 earnings per share. Etsy’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts anticipate that Etsy will post 4.31 EPS for the current year.

About Etsy

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.