Etsy Inc (NYSE:ETSY) Given Average Rating of “Hold” by Brokerages

Etsy Inc (NYSE:ETSY) has earned a consensus recommendation of “Hold” from the thirty-three analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $71.80.

ETSY has been the topic of several research analyst reports. Weiss Ratings raised Etsy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Etsy from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Wells Fargo & Company increased their price target on Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Citigroup began coverage on shares of Etsy in a report on Thursday, May 21st. They issued an “outperform” rating for the company. Finally, UBS Group upgraded shares of Etsy from a “neutral” rating to a “neutral” rating in a report on Thursday, May 21st.

Etsy Trading Up 5.4%

Shares of ETSY opened at $76.75 on Friday. The firm has a market capitalization of $7.28 billion, a P/E ratio of 31.98, a P/E/G ratio of 3.03 and a beta of 1.83. The firm has a fifty day moving average price of $67.28 and a 200-day moving average price of $59.26. Etsy has a 12-month low of $44.00 and a 12-month high of $80.41.

Insider Buying and Selling at Etsy

In related news, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.89, for a total value of $9,281,549.70. Following the completion of the sale, the insider owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.79, for a total transaction of $1,375,800.00. Following the sale, the director directly owned 461,329 shares of the company’s stock, valued at $31,734,821.91. This represents a 4.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 645,303 shares of company stock valued at $44,422,788. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

Several large investors have recently made changes to their positions in ETSY. Lone Pine Capital LLC acquired a new stake in shares of Etsy during the 3rd quarter worth about $257,614,000. SG Americas Securities LLC grew its stake in shares of Etsy by 717.7% in the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after acquiring an additional 1,314,071 shares in the last quarter. AQR Capital Management LLC increased its holdings in Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after purchasing an additional 1,177,301 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after acquiring an additional 1,112,520 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Etsy during the 4th quarter worth $33,903,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

About Etsy

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.