Etsy (NASDAQ:ETSY) Shares Up 3.9% – What’s Next?

Etsy, Inc. (NASDAQ:ETSY)’s stock price was up 3.9% during mid-day trading on Tuesday . The company traded as high as $47.50 and last traded at $47.64. Approximately 631,021 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,589,961 shares. The stock had previously closed at $45.86.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ETSY shares. UBS Group lowered their target price on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Truist Financial dropped their target price on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and decreased their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Finally, Moffett Nathanson lifted their price objective on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.42.

Etsy Stock Up 3.5 %

The firm has a 50 day moving average price of $51.41 and a 200 day moving average price of $52.79. The stock has a market cap of $5.08 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

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

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the sale, the insider now directly owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. This represents a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction dated 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 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. Insiders sold a total of 24,666 shares of company stock worth $1,286,445 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Etsy in the fourth quarter worth about $74,235,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Etsy in the 3rd quarter valued at approximately $55,530,000. Holocene Advisors LP acquired a new stake in Etsy in the 3rd quarter worth approximately $49,061,000. Assenagon Asset Management S.A. grew its position in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Etsy by 703.8% during the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock valued at $42,982,000 after purchasing an additional 711,572 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

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.