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

Shares of Etsy, Inc. (NASDAQ:ETSY) have received an average rating of “Hold” from the twenty-four ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $70.61.

Several brokerages recently commented on ETSY. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Etsy in a research note on Friday, August 23rd. Wolfe Research began coverage on Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Evercore ISI raised Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald started coverage on Etsy in a research note on Thursday, September 5th. They issued a “neutral” rating and a $50.00 price objective on the stock.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 18,083 shares in the company, valued at $1,001,798.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 2,000 shares of company stock worth $116,395 over the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Norges Bank bought a new stake in Etsy in the fourth quarter valued at about $86,494,000. Marshall Wace LLP increased its holdings in Etsy by 304.2% in the second quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after purchasing an additional 1,055,296 shares during the last quarter. TD Asset Management Inc increased its holdings in Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after purchasing an additional 952,907 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after purchasing an additional 734,200 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after purchasing an additional 721,454 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 0.3 %

Shares of NASDAQ:ETSY opened at $53.91 on Monday. Etsy has a 1-year low of $50.63 and a 1-year high of $89.58. The firm has a market capitalization of $6.30 billion, a PE ratio of 24.62, a PEG ratio of 5.10 and a beta of 1.97. The business’s 50 day moving average is $56.67 and its 200-day moving average is $61.43.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. On average, sell-side analysts predict that Etsy will post 2.38 EPS for the current year.

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.