Etsy, Inc. (NASDAQ:ETSY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Etsy, Inc. (NASDAQ:ETSY) have been assigned a consensus rating of “Hold” from the twenty-six ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $58.78.

A number of brokerages have weighed in on ETSY. Canaccord Genuity Group reduced their price target on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft downgraded Etsy to a “hold” rating and dropped their price objective for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Citigroup dropped their price objective on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Moffett Nathanson upped their price objective on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th.

Etsy Stock Performance

ETSY stock opened at $45.65 on Monday. Etsy has a 1 year low of $43.75 and a 1 year high of $71.72. The stock’s 50 day moving average price is $52.62 and its 200 day moving average price is $53.31. The firm has a market cap of $4.89 billion, a P/E ratio of 19.26, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts predict that Etsy will post 2.57 earnings per share for the current year.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock worth $1,286,445 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Several institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn FI LLC acquired a new stake in shares of Etsy in the 4th quarter valued at $5,229,000. Neo Ivy Capital Management acquired a new stake in shares of Etsy in the 4th quarter valued at $3,334,000. GTS Securities LLC raised its holdings in Etsy by 142.3% in the 4th quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock worth $776,000 after acquiring an additional 49,333 shares during the period. PharVision Advisers LLC bought a new position in Etsy in the 4th quarter worth $283,000. Finally, Voloridge Investment Management LLC raised its holdings in Etsy by 40.6% in the 4th quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer’s stock worth $25,200,000 after acquiring an additional 137,602 shares during the period. Institutional investors and hedge funds 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.