JMP Securities Downgrades Etsy (NASDAQ:ETSY) to Market Perform

JMP Securities lowered shares of Etsy (NASDAQ:ETSY) from an outperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat Ratings reports.

Several other brokerages have also issued reports on ETSY. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Etsy from $80.00 to $65.00 and set a hold rating for the company in a research note on Wednesday, April 10th. Morgan Stanley decreased their price target on shares of Etsy from $55.00 to $52.00 and set an underweight rating for the company in a research note on Thursday. B. Riley decreased their price target on shares of Etsy from $91.00 to $83.00 and set a buy rating for the company in a research note on Thursday. The Goldman Sachs Group decreased their price target on shares of Etsy from $80.00 to $70.00 and set a neutral rating for the company in a research note on Thursday. Finally, Piper Sandler increased their price target on shares of Etsy from $90.00 to $103.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Etsy currently has an average rating of Hold and an average price target of $79.96.

Etsy Trading Up 1.2 %

NASDAQ ETSY traded up $0.73 during trading on Thursday, hitting $59.97. The company had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. Etsy has a one year low of $56.60 and a one year high of $102.81. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 4.16 and a beta of 2.00. The company’s fifty day moving average is $67.77 and its 200-day moving average is $71.52.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. As a group, equities analysts anticipate that Etsy will post 2.55 EPS for the current year.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the sale, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock worth $4,836,827 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently modified their holdings of ETSY. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Etsy by 27.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,100 shares of the specialty retailer’s stock valued at $2,913,000 after acquiring an additional 9,800 shares during the period. Xponance Inc. boosted its holdings in Etsy by 8.1% in the 3rd quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock worth $1,670,000 after buying an additional 1,946 shares during the period. Raymond James & Associates boosted its holdings in Etsy by 2.0% in the 3rd quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock worth $7,140,000 after buying an additional 2,204 shares during the period. Rovin Capital UT ADV boosted its holdings in Etsy by 28.6% in the 3rd quarter. Rovin Capital UT ADV now owns 5,483 shares of the specialty retailer’s stock worth $354,000 after buying an additional 1,218 shares during the period. Finally, Concord Wealth Partners boosted its holdings in Etsy by 9,333.3% in the 3rd quarter. Concord Wealth Partners now owns 1,981 shares of the specialty retailer’s stock worth $128,000 after buying an additional 1,960 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.