Etsy Inc (NYSE:ETSY) Stock Rated “Hold” by Wall Street Brokerages

Shares of Etsy Inc (NYSE:ETSY) have been given a consensus recommendation of “Hold” by the thirty-five ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eighteen have issued a hold recommendation, fourteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $86.21.

ETSY has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings cut Etsy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Morgan Stanley upgraded Etsy from an “underweight” rating to an “outperform” rating in a report on Thursday, August 20th. The Goldman Sachs Group began coverage on Etsy in a research report on Monday, August 17th. They set a “neutral” rating and a $89.00 target price on the stock. Finally, Citigroup upped their target price on Etsy from $60.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, August 7th.

Etsy Price Performance

ETSY stock opened at $76.79 on Tuesday. Etsy has a 12 month low of $44.00 and a 12 month high of $87.97. The firm has a market cap of $7.29 billion, a PE ratio of 42.90, a P/E/G ratio of 1.91 and a beta of 1.86. The firm has a 50 day simple moving average of $77.20 and a 200 day simple moving average of $70.78.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The business had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts expect that Etsy will post 3.94 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Richard Colburn, III sold 8,252 shares of Etsy stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the transaction, the insider owned 6,503 shares of the company’s stock, valued at approximately $533,831.27. This trade represents a 55.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Ballard sold 4,500 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $81.85, for a total value of $368,325.00. Following the sale, the director owned 4,239 shares in the company, valued at approximately $346,962.15. The trade was a 51.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 127,044 shares of company stock worth $10,418,029. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of large investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Etsy during the 2nd quarter worth approximately $1,045,000. Ieq Capital LLC acquired a new stake in Etsy during the 2nd quarter valued at $4,083,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Etsy in the second quarter valued at $6,466,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Etsy in the second quarter valued at $2,144,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Etsy in the second quarter valued at $18,602,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

About Etsy

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.