Etsy, Inc. (NASDAQ:ETSY) Receives $84.88 Consensus PT from Analysts

Shares of Etsy, Inc. (NASDAQ:ETSY) have received a consensus recommendation of “Hold” from the twenty-three analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $84.88.

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Etsy in a research report on Friday, March 1st. UBS Group reduced their price target on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Evercore ISI reduced their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Finally, Barclays increased their target price on shares of Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd.

Etsy Stock Performance

Shares of ETSY opened at $68.35 on Friday. The firm has a market cap of $8.10 billion, a PE ratio of 30.51, a PEG ratio of 4.64 and a beta of 2.01. The firm’s 50 day moving average price is $69.30 and its 200 day moving average price is $71.53. Etsy has a twelve month low of $58.20 and a twelve month high of $103.25.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The firm had revenue of $842.32 million during the quarter, compared to analysts’ expectations of $827.40 million. On average, sell-side analysts anticipate that Etsy will post 2.58 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI lifted its holdings in Etsy by 426.6% during the third quarter. National Bank of Canada FI now owns 116,335 shares of the specialty retailer’s stock valued at $7,521,000 after purchasing an additional 94,245 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Etsy by 7.9% during the third quarter. AE Wealth Management LLC now owns 13,680 shares of the specialty retailer’s stock worth $883,000 after acquiring an additional 998 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Etsy during the third quarter worth $701,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Etsy during the third quarter worth $313,000. Finally, Moody National Bank Trust Division lifted its position in shares of Etsy by 2.7% during the third quarter. Moody National Bank Trust Division now owns 23,218 shares of the specialty retailer’s stock worth $1,499,000 after acquiring an additional 619 shares in the last quarter. Hedge funds and other 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.