Rosenblatt Securities started coverage on shares of Etsy (NYSE:ETSY – Get Free Report) in a report released on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $95.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential upside of 17.72% from the company’s current price.
ETSY has been the subject of a number of other reports. Wells Fargo & Company increased their price objective on Etsy from $61.00 to $76.00 and gave the stock an “underweight” rating in a report on Friday, August 7th. Weiss Ratings downgraded Etsy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Wedbush started coverage on shares of Etsy in a research note on Thursday, July 16th. They set a “neutral” rating and a $80.00 price target for the company. Sanford C. Bernstein raised their price target on shares of Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, April 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.04.
Get Our Latest Stock Report on ETSY
Etsy Stock Performance
Etsy (NYSE:ETSY – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The company had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, sell-side analysts anticipate that Etsy will post 3.94 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Etsy news, CAO Merilee Buckley sold 405 shares of Etsy stock in a transaction on Monday, August 17th. The shares were sold at an average price of $79.50, for a total transaction of $32,197.50. Following the completion of the transaction, the chief accounting officer directly owned 167 shares of the company’s stock, valued at $13,276.50. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $83.22, for a total transaction of $1,664,400.00. Following the completion of the transaction, the director directly owned 421,329 shares in the company, valued at $35,062,999.38. The trade was a 4.53% decrease in their ownership of the stock. 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 sold a total of 604,967 shares of company stock worth $45,141,231 in the last three months. Insiders own 2.50% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ETSY. Janus Henderson Group PLC boosted its position in shares of Etsy by 627.2% in the first quarter. Janus Henderson Group PLC now owns 279,407 shares of the company’s stock valued at $13,962,000 after acquiring an additional 240,986 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after acquiring an additional 1,112,520 shares during the period. Crossmark Global Holdings Inc. increased its position in 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 acquiring an additional 79,888 shares during the period. SG Americas Securities LLC raised its stake in Etsy by 717.7% in the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after purchasing an additional 1,314,071 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. raised its stake in Etsy by 100.0% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock worth $4,657,000 after purchasing an additional 42,000 shares in the last quarter. 99.53% of the stock is owned by institutional investors.
About Etsy
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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