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

Shares of Etsy, Inc. (NASDAQ:ETSY) have received an average recommendation of “Hold” from the twenty-six research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $62.42.

ETSY has been the topic of a number of research reports. Morgan Stanley decreased their price objective on Etsy from $47.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Citigroup decreased their price objective on Etsy from $65.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus decreased their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Bank of America decreased their price objective on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their price objective on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a report on Friday, November 1st.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $52.79 on Thursday. The stock’s fifty day moving average price is $54.97 and its two-hundred day moving average price is $54.07. Etsy has a one year low of $47.10 and a one year high of $78.65. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 2.71 and a beta of 2.00.

Etsy declared that its board has approved a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several large investors have recently bought and sold shares of ETSY. UMB Bank n.a. increased its stake in shares of Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 292 shares during the period. Blue Trust Inc. increased its stake in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of Etsy by 1.2% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 43,142 shares of the specialty retailer’s stock valued at $2,396,000 after buying an additional 508 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Etsy in the third quarter valued at about $834,000. Finally, Lecap Asset Management Ltd. increased its stake in shares of Etsy by 75.2% in the third quarter. Lecap Asset Management Ltd. now owns 17,859 shares of the specialty retailer’s stock valued at $992,000 after buying an additional 7,664 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Etsy Company Profile

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.