Brokerages Set Etsy, Inc. (NASDAQ:ETSY) Price Target at $54.30

Shares of Etsy, Inc. (NASDAQ:ETSY) have earned a consensus rating of “Hold” from the twenty-five analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $50.14.

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of Etsy from $35.00 to $31.00 and set a “sell” rating for the company in a research report on Thursday. Morgan Stanley cut their price objective on shares of Etsy from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Thursday. UBS Group cut their price target on Etsy from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company dropped their price objective on Etsy from $46.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and increased their target price for the stock from $45.00 to $55.00 in a report on Monday, January 13th.

Etsy Trading Down 2.2 %

Shares of ETSY opened at $42.51 on Tuesday. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.57 and a beta of 2.15. Etsy has a 12 month low of $40.05 and a 12 month high of $66.93. The firm has a fifty day simple moving average of $46.05 and a 200 day simple moving average of $51.15.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the prior year, the business earned $0.48 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that Etsy will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total value of $1,044,951.18. Following the completion of the transaction, the chief executive officer now directly owns 31,818 shares in the company, valued at approximately $1,534,582.14. This represents a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,952 shares of company stock valued at $2,554,620. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in Etsy in the 4th quarter worth approximately $74,235,000. Assenagon Asset Management S.A. lifted its holdings in shares of Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after buying an additional 850,520 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after buying an additional 711,572 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after acquiring an additional 522,111 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Etsy by 89.1% during the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer’s stock valued at $47,042,000 after acquiring an additional 419,038 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

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.