Etsy, Inc. (NASDAQ:ETSY) Receives $132.32 Average PT from Brokerages

Shares of Etsy, Inc. (NASDAQ:ETSYGet Rating) have earned an average rating of “Hold” from the twenty-three brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $128.83.

Several research firms recently commented on ETSY. Morgan Stanley dropped their price objective on Etsy from $113.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Guggenheim upped their price objective on Etsy from $101.00 to $105.00 in a research note on Thursday, July 28th. JMP Securities restated a “mkt outperform” rating and set a $125.00 target price on shares of Etsy in a research report on Wednesday, June 1st. Loop Capital dropped their target price on Etsy from $140.00 to $115.00 in a research report on Thursday, April 21st. Finally, Sanford C. Bernstein began coverage on Etsy in a research report on Monday, May 23rd. They set an “outperform” rating and a $105.00 target price on the stock.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $107.80, for a total transaction of $2,247,630.00. Following the transaction, the chief executive officer now directly owns 102,707 shares in the company, valued at approximately $11,071,814.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Rachel C. Glaser sold 6,080 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $577,600.00. Following the transaction, the chief financial officer now directly owns 42,709 shares in the company, valued at approximately $4,057,355. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $107.80, for a total transaction of $2,247,630.00. Following the transaction, the chief executive officer now owns 102,707 shares in the company, valued at $11,071,814.60. The disclosure for this sale can be found here. Insiders have sold a total of 132,130 shares of company stock worth $11,368,022 in the last three months. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of hedge funds have recently added to or reduced their stakes in ETSY. Norges Bank bought a new position in Etsy in the 4th quarter worth about $223,388,000. Van ECK Associates Corp grew its stake in Etsy by 163.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,616,734 shares of the specialty retailer’s stock worth $118,361,000 after acquiring an additional 1,002,642 shares in the last quarter. Clearbridge Investments LLC grew its stake in Etsy by 69.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after acquiring an additional 950,415 shares in the last quarter. Capital International Investors lifted its position in shares of Etsy by 56.1% in the 1st quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock worth $265,696,000 after purchasing an additional 768,350 shares during the period. Finally, NN Investment Partners Holdings N.V. lifted its position in shares of Etsy by 297.7% in the 1st quarter. NN Investment Partners Holdings N.V. now owns 819,082 shares of the specialty retailer’s stock worth $101,796,000 after purchasing an additional 613,122 shares during the period. 89.93% of the stock is currently owned by institutional investors.

Etsy Stock Performance

ETSY stock opened at $109.38 on Wednesday. The firm has a market cap of $13.85 billion, a PE ratio of 38.51, a P/E/G ratio of 5.02 and a beta of 1.88. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 4.10. The business has a 50 day moving average of $85.64 and a 200-day moving average of $109.86. Etsy has a 12-month low of $67.01 and a 12-month high of $307.75.

Etsy (NASDAQ:ETSYGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. Etsy had a return on equity of 67.88% and a net margin of 17.01%. The business had revenue of $585.20 million for the quarter, compared to the consensus estimate of $556.85 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Etsy’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Etsy will post 2.19 earnings per share for the current year.

About Etsy

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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.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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