Brokerages Set Etsy, Inc. (NASDAQ:ETSY) Target Price at $58.38

Etsy, Inc. (NASDAQ:ETSY) has been given a consensus rating of “Hold” by the twenty-seven analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $58.38.

ETSY has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. UBS Group dropped their price objective on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and reduced their price objective for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Stifel Nicolaus dropped their price objective on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a report on Monday, December 16th.

Etsy Stock Down 8.2 %

ETSY opened at $44.42 on Friday. Etsy has a 52 week low of $43.43 and a 52 week high of $71.72. The business’s 50 day moving average is $50.45 and its two-hundred day moving average is $52.42. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the prior year, the firm earned $0.62 EPS. Etsy’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts expect that Etsy will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In other news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 directly owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,952 shares of company stock valued at $2,554,620. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Lindbrook Capital LLC lifted its position in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 292 shares in the last quarter. Hurley Capital LLC purchased a new stake in shares of Etsy in the fourth quarter worth about $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the fourth quarter valued at about $34,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Etsy during the 4th quarter valued at about $37,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.