Brokerages Set Etsy Inc (NYSE:ETSY) Target Price at $75.36

Shares of Etsy Inc (NYSE:ETSYGet Free Report) have earned a consensus rating of “Hold” from the thirty-two analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twenty have given a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $75.36.

A number of brokerages recently commented on ETSY. Truist Financial raised their target price on Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein increased their price target on shares of Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $80.00 price objective on shares of Etsy in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Etsy from $78.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th.

View Our Latest Analysis on Etsy

Insiders Place Their Bets

In other Etsy news, insider Josh Silverman sold 39,161 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $79.00, for a total value of $3,093,719.00. Following the completion of the transaction, the insider owned 139,884 shares of the company’s stock, valued at $11,050,836. This trade represents a 21.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Merilee Buckley sold 881 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $75.35, for a total transaction of $66,383.35. Following the completion of the transaction, the chief accounting officer owned 405 shares of the company’s stock, valued at approximately $30,516.75. This trade represents a 68.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 658,943 shares of company stock worth $47,305,981 in the last ninety days. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ETSY. Massachusetts Financial Services Co. MA boosted its stake in shares of Etsy by 33.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock valued at $10,369,000 after buying an additional 47,105 shares during the period. SG Americas Securities LLC increased its stake in shares of Etsy by 717.7% during the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after buying an additional 1,314,071 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Etsy by 338.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock worth $5,738,000 after buying an additional 79,888 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after acquiring an additional 1,112,520 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its stake in Etsy by 100.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock worth $4,657,000 after acquiring an additional 42,000 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Trading Up 4.1%

Shares of NYSE ETSY opened at $83.93 on Thursday. The stock has a market capitalization of $7.96 billion, a PE ratio of 34.97, a PEG ratio of 3.16 and a beta of 1.83. Etsy has a twelve month low of $44.00 and a twelve month high of $87.14. The stock has a fifty day simple moving average of $73.58 and a 200-day simple moving average of $62.27.

About Etsy

(Get Free Report)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

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Analyst Recommendations for Etsy (NYSE:ETSY)

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