Etsy (NASDAQ:ETSY) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Etsy (NASDAQ:ETSY – Get Rating) in a research note published on Monday, Benzinga reports. They currently have a $160.00 price objective on the specialty retailer’s stock.

Several other research analysts also recently issued reports on the stock. Moffett Nathanson assumed coverage on shares of Etsy in a research note on Tuesday, November 15th. They issued a market perform rating and a $116.00 target price on the stock. Morgan Stanley dropped their target price on shares of Etsy from $75.00 to $74.00 and set an equal weight rating on the stock in a research note on Thursday, February 23rd. Barclays increased their price objective on shares of Etsy from $98.00 to $115.00 and gave the company an equal weight rating in a research report on Thursday, February 23rd. Canaccord Genuity Group increased their price objective on shares of Etsy from $160.00 to $170.00 and gave the company a buy rating in a research report on Thursday, February 23rd. Finally, JMP Securities increased their price objective on shares of Etsy from $120.00 to $140.00 and gave the company a market outperform rating in a research report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $130.67.

Etsy Trading Down 2.1 %

Shares of NASDAQ ETSY opened at $103.71 on Monday. The firm’s 50 day moving average price is $129.30 and its 200-day moving average price is $118.01. The company has a market cap of $12.93 billion, a PE ratio of -18.17, a P/E/G ratio of 5.54 and a beta of 1.99. Etsy has a 52-week low of $67.01 and a 52-week high of $151.50. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.40 and a current ratio of 2.40.

Etsy (NASDAQ:ETSY – Get Rating) last issued its earnings results on Wednesday, February 22nd. The specialty retailer reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.05). The firm had revenue of $807.20 million during the quarter, compared to the consensus estimate of $752.12 million. Etsy had a positive return on equity of 1,306.41% and a negative net margin of 27.06%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 EPS. On average, equities research analysts expect that Etsy will post 2.81 EPS for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,000 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total value of $135,180.00. Following the completion of the sale, the insider now directly owns 3,309 shares of the company’s stock, valued at $447,310.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Nicholas Daniel sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total transaction of $135,180.00. Following the completion of the transaction, the insider now owns 3,309 shares in the company, valued at $447,310.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Ryan M. Scott sold 1,170 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $116.98, for a total transaction of $136,866.60. The disclosure for this sale can be found here. Insiders sold a total of 84,542 shares of company stock valued at $10,731,872 over the last three months. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Etsy by 123.6% during the fourth quarter. Victory Capital Management Inc. now owns 105,984 shares of the specialty retailer’s stock worth $12,695,000 after acquiring an additional 58,581 shares during the last quarter. OLD Mission Capital LLC bought a new position in Etsy during the fourth quarter valued at $25,000. Voya Investment Management LLC lifted its position in Etsy by 15.7% during the fourth quarter. Voya Investment Management LLC now owns 1,064,354 shares of the specialty retailer’s stock valued at $127,488,000 after purchasing an additional 144,696 shares during the last quarter. Natixis lifted its position in Etsy by 260.2% during the fourth quarter. Natixis now owns 66,205 shares of the specialty retailer’s stock valued at $7,929,000 after purchasing an additional 47,827 shares during the last quarter. Finally, Equitable Trust Co. lifted its position in Etsy by 166.5% during the fourth quarter. Equitable Trust Co. now owns 6,337 shares of the specialty retailer’s stock valued at $759,000 after purchasing an additional 3,959 shares during the last quarter. Institutional investors own 95.46% of the company’s stock.

Etsy Company Profile

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Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments. Etsy, Reverb, Depop, and Elo7. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.