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

Shares of Etsy, Inc. (NASDAQ:ETSY) have been assigned a consensus recommendation of “Hold” from the twenty-four analysts that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $64.87.

Several equities analysts have issued reports on the stock. Evercore ISI raised shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Etsy in a research note on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Wells Fargo & Company decreased their target price on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Finally, The Goldman Sachs Group lowered Etsy from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $70.00 to $45.00 in a research note on Tuesday, October 15th.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now owns 18,083 shares of the company’s stock, valued at $1,001,798.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,369 shares of company stock valued at $280,200. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

Several hedge funds have recently made changes to their positions in ETSY. Allspring Global Investments Holdings LLC lifted its holdings in Etsy by 68.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,968 shares of the specialty retailer’s stock worth $754,000 after buying an additional 4,474 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Etsy by 26.2% during the first quarter. Janney Montgomery Scott LLC now owns 11,078 shares of the specialty retailer’s stock worth $761,000 after acquiring an additional 2,299 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Etsy by 10.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,555 shares of the specialty retailer’s stock valued at $313,000 after acquiring an additional 424 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Etsy by 79.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,059 shares of the specialty retailer’s stock valued at $485,000 after purchasing an additional 3,122 shares during the period. Finally, Rehmann Capital Advisory Group grew its stake in Etsy by 30.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 5,005 shares of the specialty retailer’s stock worth $344,000 after purchasing an additional 1,165 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Trading Up 1.3 %

Shares of ETSY stock opened at $54.00 on Tuesday. Etsy has a 12-month low of $47.10 and a 12-month high of $89.58. The business’s 50 day moving average is $52.35 and its two-hundred day moving average is $57.42. The company has a market capitalization of $6.07 billion, a P/E ratio of 27.55, a P/E/G ratio of 6.29 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $652.47 million. During the same quarter last year, the business earned $0.64 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts predict that Etsy will post 2.25 earnings per share for the current fiscal year.

Etsy declared that its board has authorized a share repurchase program on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

About Etsy

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.