Etsy Inc. (NASDAQ:ETSY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “
Several other equities research analysts have also weighed in on ETSY. Citigroup Inc. initiated coverage on Etsy in a report on Monday, August 1st. They issued a “buy” rating and a $14.00 price objective for the company. Vetr lowered Etsy from a “strong-buy” rating to a “buy” rating and set a $12.44 price objective for the company. in a report on Monday, August 1st. Wedbush reissued a “neutral” rating and issued a $13.00 price objective (up previously from $10.00) on shares of Etsy in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. lifted their price objective on Etsy from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Finally, Morgan Stanley decreased their price objective on Etsy from $11.50 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, August 3rd. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. Etsy has a consensus rating of “Hold” and an average target price of $14.16.
Etsy (NASDAQ:ETSY) opened at 15.35 on Tuesday. Etsy has a 1-year low of $6.04 and a 1-year high of $15.83. The stock has a 50 day moving average price of $14.11 and a 200 day moving average price of $10.77. The firm’s market cap is $1.70 billion.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.05. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The firm earned $85.35 million during the quarter, compared to analysts’ expectations of $80.55 million. During the same period last year, the business posted ($0.07) EPS. The company’s revenue was up 38.9% compared to the same quarter last year. On average, analysts anticipate that Etsy will post ($0.06) EPS for the current year.
In other news, CFO Kristina Salen sold 156,839 shares of Etsy stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $15.00, for a total transaction of $2,352,585.00. Following the completion of the sale, the chief financial officer now owns 158,581 shares in the company, valued at approximately $2,378,715. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick R. Wilson sold 216,399 shares of Etsy stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $13.61, for a total value of $2,945,190.39. Following the sale, the director now owns 822,062 shares of the company’s stock, valued at approximately $11,188,263.82. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in shares of Etsy by 420.5% in the second quarter. California State Teachers Retirement System now owns 220,196 shares of the company’s stock worth $2,112,000 after buying an additional 177,889 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Etsy by 173.8% in the second quarter. Bank of New York Mellon Corp now owns 316,333 shares of the company’s stock worth $3,034,000 after buying an additional 200,785 shares during the period. Boston Private Wealth LLC increased its stake in shares of Etsy by 0.3% in the second quarter. Boston Private Wealth LLC now owns 24,544 shares of the company’s stock worth $235,000 after buying an additional 75 shares during the period. American Century Companies Inc. acquired a new stake in shares of Etsy during the second quarter worth about $166,000. Finally, Strs Ohio acquired a new stake in shares of Etsy during the second quarter worth about $535,000. Hedge funds and other institutional investors own 58.14% of the company’s stock.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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